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Trading news
23 Apr 2015
AUD/NZD a buy for 1.06 – ANZ
FXStreet (Barcelona) - Daniel Been and Sam Tuck of ANZ, see fundamentals playing spoilsport for a AUD/NZD move towards parity, and further suggest going long on the pair, targeting 1.06.
Key Quotes
“The AUD/NZD cross has had two attempts at parity and on both occasions fundamentals have stalled the momentum.”
“An incremental fundamental shift can have important consequences for the cross as it shifts the rhetoric of the two central banks closer together.”
“We believe we are approaching such a point and recommend buying AUD/NZD at 1.0230, with a stop at 1.0050 and an initial target of 1.06.”
Key Quotes
“The AUD/NZD cross has had two attempts at parity and on both occasions fundamentals have stalled the momentum.”
“An incremental fundamental shift can have important consequences for the cross as it shifts the rhetoric of the two central banks closer together.”
“We believe we are approaching such a point and recommend buying AUD/NZD at 1.0230, with a stop at 1.0050 and an initial target of 1.06.”