FxWirePro: Aussie Gains Against Major Peers in Early Hours, RBA Rate Decision in Focus
- AUD/NZD is trading around 1.0667 marks.
- Pair made intraday high at 1.0674 and low at 1.0624 marks.
- Intraday bias remains neutral for the moment.
- A sustained close above 1.0647 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
- On the other side, a daily close below 1.0526 will take the parity down towards key support around 1.0496(October 10, 2015 low) and 1.0456 marks respectively.
- Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. In contrary, RSI signals up trend for the moment.
- Today RBA will release interest rate decision at 0430 GMT.
We prefer to take short position in AUD/NZD around 1.0685, stop loss 1.0739 and target 1.0526 levels.