Credit Agricole are looking at a long entry on the Australian dollar against the New Zealand
Citing:
- NZD has risen too far
- leaving AUD/NZD undervalued significantly
- RBA sounding more upbeat than the RBNZ on their economic outlook
- RBA closer to a hike than the RBNZ
- Reduction in US China trade tension recently should be better for AUD (compared to for NZD)
Recommendation:
- Look to enter AUD/NZD at 1.0748
- Targeting 1.1050
- Stop-loss 1.0590
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Here is a daily chart (FX charts are free on forexlive, here)