FxWirePro: AUD/NZD Fails to Break Key Resistance at 1.1298, Good to Buy on Dips
- AUD/NZD is trading around 1.1220 marks.
- Pair made intraday high at 1.1250 and low at 1.1217 marks.
- Intraday bias remains bearish till the time pair holds immediate resistance at 1.1298 marks.
- A daily close below 1.1209 will take the parity down towards 1.1146/1.1062/1.1016/ 1.0934 marks.
- On the other side, a sustained close above 1.1248 will drag the parity higher towards 1.1298/1.1317/1.1352/1.1590 levels.
- 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 1.1188, stop loss 1.1146 and target 1.1298 marks.
The material has been provided by InstaForex Company - www.instaforex.com