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Jan 08 - 09:48 AM
AUD/USD: A Buy On Dips In The 0.6800/50 Zone; AUD/NZD: Attractive Entry Levels For Longs - TD
First appeared on eFXplus on Jan 08 - 08:30 AM

TD Research discusses AUD outlook and adopts a buy-on dips bias in AUD/USD, and AUD/NZD. TD is long AUD/NZD* strategically as as one of its top trades for 2020.

"AUD remains topical following the collapse to start the year. It now trades with a nice discount on our metrics, which, when coupled with positioning, suggests much bad news sits in the price. We like buying on dips in the 0.6800/50 zone, reflecting a reduction of this risk premium," TD notes. 

"We also note that AUDNZD now trades at a 2.5% discount to HFFV, offering attractive entry levels," TD adds. 


*Recorded in eFXplus Orders


TD Bank Research/Market Commentary


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