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Trading news
24 Apr 2015
AUD/NZD: Buy for an initial target of 1.06 - ANZ
FXStreet (Bali) - According to Daniel Been and Sam Tuck, FX Strategists at ANZ, the parity party in AUD/NZD never started, now recommending to buy the pair.
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."