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5 Aug 2014
AUD/NZD: Start to accumulate longs on dips - ANZ
FXStreet (Bali) - Daniel Been, FX Strategist at ANZ, advocate a strategy of accumulating long positions in AUD/NZD on dips.
Key Quotes
"The AUD/NZD remains in a 1.05-1.10 range. The rate cycle in New Zealand looks to be fully priced for the current economic situation, and more recently the NZD has become more responsive to international news. Should this dynamic extend, it will likely add to AUD/NZD support."
"We continue to advocate a strategy of accumulating on dips with signs of economic or monetary policy convergence likely to drive a reversal of this cross toward historic averages."
Key Quotes
"The AUD/NZD remains in a 1.05-1.10 range. The rate cycle in New Zealand looks to be fully priced for the current economic situation, and more recently the NZD has become more responsive to international news. Should this dynamic extend, it will likely add to AUD/NZD support."
"We continue to advocate a strategy of accumulating on dips with signs of economic or monetary policy convergence likely to drive a reversal of this cross toward historic averages."