FXWIREPRO: AUD/NZD Refrains to Fall Below Key Support at 1.1062, Intraday Bias Remains Neutral
- AUD/NZD is trading around 1.1093 marks.
- Pair made intraday high at 1.1107 and low at 1.1069 marks.
- Today New Zealand’s ANZ Business confidence survey showed that a net 3.2% of firms were upbeat about general economic conditions in March, down from 7.1% a month earlier.
- On the other side, Australia’s new home sales fell 5.3% month-on-month in February vs 0.6% m/m previous release.
- Intraday bias remains neutral for the moment.
- A daily close below 1.1062 will take the parity down towards 1.1016/ 1.0934 marks.
- On the other side, a sustained close above key resistance at 1.1123 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 only above 1.1128, stop loss 1.1062 and target 1.1228/1.1298 marks.
The material has been provided by InstaForex Company - www.instaforex.com