"Westpac: trading AUD/NZD"(2012-06-13)
Westpac: trading AUD/NZD
Analysts at Westpac claim that one should wait until the pair AUD/NZD rises on the RBNZ rate-cut talk, and then sell the Australian dollar versus its New Zealand’s counterpart around 1.2870, targeting 1.2600 and stopping at 1.2960.
The Reserve Bank of New Zealand will be meeting Wednesday night. Westpac believes that the central bank won’t lower the borrowing costs, so trade on the market’s expectations seems like a good opportunity.
According to Westpac, the RBA will cut rates a couple more times, but the RBNZ will remain on hold for the rest of 2012.
Chart. Daily AUD/NZD
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