AUD/NZD – Trendline support holding so far

  • AUD/NZD bounced off the trendline once again
  • The uptrend has slowed, but remains intact
  • Key support now lies at 1.10 and buying dips towards the level makes sense, for a move back to 1.14
  • AUD & NZD outlook both negative, but NZD one more bearish
  • RBNZ today; market very short NZD, but risk of a larger short squeeze limited as there bank is likely to be dovish amid the weak econ performance and sharp decline in commodity prices

AUDNZD

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