FXWIREPRO: AUD/NZD Hovers Around Key Support at 1.1128, Good to Buy on Dips
- AUD/NZD is trading around 1.1129 marks.
- Pair made intraday high at 1.1141 and low at 1.1105 marks.
- Intraday bias remains bullish till the time pair holds initial support level at 1.1105 levels.
- A daily close below 1.1104 will take the parity down towards 1.10 marks.
- On the other side, a sustained close above key resistance at 1.1128 will drag the parity up towards 1.1298/1.1352/1.1590 marks.
- Important to note here that, overall trend remains bullish as 20D, 30D and 55D EMA heads up in daily chart and confirms bullish trend.
We prefer to take long position in AUD/NZD at current rate around 1.1128, stop loss 1.1105 and target 1.1252/ 1.1298 levels.
The material has been provided by InstaForex Company - www.instaforex.com