AUD/NZD trade recommendation - entry, target, stop loss

Author: Eamonn Sheridan | Category: News

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

---

Here is a daily chart (FX charts are free on forexlive, here)



By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose