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May 22 - 05:00 AM

AUD/NZD - Long-Term AUD/NZD Range Has Likely Dropped Now Parity-1.10

By Jeremy Boulton  —  May 21 - 04:50 AM
  • AUD/NZD flirted with parity during a period of great turmoil in March

  • Pair then rallied to 1.0830 this month then slipped a little

  • Major long-term highs have been gradually falling

  • High near 1.15 in 2015, 1.13 in 2016 and 2017 and 1.1200 in 2018

  • Parity test drove pair around 200-300 pips below key lows seen since 2015

  • Applying that degree of change to peaks of prior ranges, 1.10 a likely cap

  • Like parity 1.1000 is key psychological marker. 1.00-1.10 looks a good bet



AUD/NZD Click here

Source:
Refinitiv IFR Research/Market Commentary

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