FXWIREPRO: Aussie Gains Sharply on the Back of Better Than expected Nab Business Confidence Data

FXWIREPRO: Aussie Gains Sharply on the Back of Better Than expected Nab Business Confidence Data

12 April 2016, 06:34
Roberto Jacobs
0
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FXWIREPRO: Aussie Gains Sharply on the Back of Better Than expected Nab Business Confidence Data

  • AUD/NZD is trading around 1.1093 marks. 
  • Pair made intraday high at 1.1103 and low at 1.1052 marks. 
  • Today Australia released NAB business confidence data with positive numbers at 6 m/m vs 3 m/m previous release. 
  • Intraday bias remains bullish till the time pair holds key support at 1.1062 marks. 
  • 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.

We prefer to take long position in AUD/NZD only above 1.1127, stop loss 1.1062 and target 1.1228 marks.

The material has been provided by InstaForex Company - www.instaforex.com



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