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2016.08.2922:06:00UTC+00Fxwirepro: Aussie Gains Against Major Peers on the Back of Higher Than expected Building Approvals Data Release
AUD/NZD is currently trading around 1.0439 marks.
Pair made intraday high at 1.0448 and low at 1.0423 marks.
Intraday bias remains bullish till the time pair holds key support at 1.0393 marks.
A sustained close above 1.0467 will drag the parity higher towards key resistances at 1.0581/1.0652/1.0709/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, reversal from key resistance will take the parity down towards key supports around 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
Australia’s July building approvals increases to 11.3 % (forecast 0.0 %) vs previous -2.9 %.
Australia’s July private house approvals increases to -0.5 % vs previous -2.3 %.
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