UBS recommends buying AUD/NZD on a close above 1.0979 in a note to clients. They place a stop at 1.0860.
AUDNZD daily chart
The pair tends to move at a glacial pace but has been more volatile over the past three months as the RBA and RBNZ adjust monetary policy.
Technically, I like what they’re seeing. The pair broke out to the upside but has come back down to retest the old levels, likely before a renewed push to the upside. I’d place a tighter stop but if you’re looking for 1.15 that’s almost splitting hairs.
