FxWirePro: Go Long on AUD/NZD at 1.0860 With Stop Loss at 1.0844 and Target of 1.0976
- AUD/NZD is trading around 1.0865 marks.
- Pair made intraday high at 1.0898 and low at 1.0844 marks.
- Australia's NAB business confidence data fell to 5 m/m vs 6 m/m previous release while NAB business condition fell to 9 m/m vs 12 m/m previous release.
- Intraday bias remains neutral till the time pair holds immediate support at 1.0844 marks.
- A daily close below 1.0832 will take the parity down towards 1.0801/1.0735/1.0651 marks respectively.
- On the other side, a sustained close above 1.0976 will drag the parity higher towards 1.1062/1.1123/1.1298/1.1317/1.1352/1.1590 levels.
We prefer to take long position in AUD/NZD at 1.0860, stop loss 1.0844 and target 1.0976/ 1.1062 marks.
The material has been provided by InstaForex Company - www.instaforex.com