FxWirePro: Aussie Strengthens Against Kiwi, Key Resistance 1.1298 in Focus

FxWirePro: Aussie Strengthens Against Kiwi, Key Resistance 1.1298 in Focus

21 April 2016, 08:17
Roberto Jacobs
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FxWirePro: Aussie Strengthens Against Kiwi, Key Resistance 1.1298 in Focus

  • AUD/NZD is trading around 1.1195 marks. 
  • Pair made intraday high at 1.1208 and low at 1.1150 marks. 
  • Australia’s quarterly business confidence index slipped one point to 4 in the March quarter, from a revised reading of 5 in the previous quarter. 
  • Intraday bias remains bullish till the time pair holds key support at 1.1146 marks. 
  • A daily close below 1.1146 will take the parity down towards 1.1062/1.1016/ 1.0934 marks. 
  • On the other side, initial resistances are seen at 1.1226/1.1298/1.1352/1.1590 marks. 
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend.

We prefer to take long position in AUD/NZD around 1.1180, stop loss 1.1146 and target 1.1298/1.1317 marks.

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