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Apr 14 - 10:55 AM

AUD,NZD: Next Week's Bias; Staying Long AUD/NZD For 1.09 - ANZ

By eFXdata  —  Apr 14 - 09:30 AM

ANZ Research summarizes its bias on AUD, and NZD over the near-term, while maintaining a long AUD/NZD exposure in spot (entry: 1.07) targeting a move towards 1.09, with a stop at at 1.0550.

"While there are some positive signs for the AUD towards the end of the week, the broader 0.66–0.68 trading range is intact. We see little reason for this to change in the next couple of weeks, ahead of Q1 CPI," ANZ notes. 

"Next week, quarterly CPI is the marquee event and will provide some colour on whether the RBNZ’s decision to hike 50bp was correct. 0.6160 looks like solid downside support around the 200dma, while further upside will need to push through the 100dma just above 0.63," ANZ adds. 

ANZ Research/Market Commentary


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