Analysts at UBS are re-affirming and adding to bets against AUD/NZD. They say to increase shorts on a close below 1.0865 with a target of 1.0660 and stops at 1.0945.
AUD/NZD daily chart
The Dec low was 1.0733 and there is a long-term support line (from all the way back in 1996) that comes in at 1.0560.
I like the sound of this trade, it’s simple and follows the trend. The stop is reasonably close.
