TD Research discusses adopts a buy-on-dips bias in AUD/NZD.
"We are also keenly watching AUD. The currency remains overloved but we reckon that established ranges will prevail," TD notes.
"We are however, patiently waiting to leg into AUDNZD longs as we think the RBNZ is becoming increasingly weary of NZD strength that has grossly overshot their expectations. Consolidation into 1.0580/00 would wet our appetite," TD adds.