FxWirePro: Aussie Gains Against Major Peers in Early Hours, RBA Rate Decision in Focus

FxWirePro: Aussie Gains Against Major Peers in Early Hours, RBA Rate Decision in Focus

7 June 2016, 04:43
Roberto Jacobs
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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.

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