ANZ: Short NZD/USD as RBNZ will cut rates

We add a short NZD/USD trade recommendation at 0.7405, targeting a new low of 0.7010, and a stop loss at 0.7610. We expect the NZD to underperform into the 11th June RBNZ meeting. This is in addition to our long AUD/NZD trade recommendation – initiated at 1.0230 on April 23rd and last updated May 06th, which we are happy to let run.

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