17 Jan 2014
Flash: AUD/NZD momentum may test 1.0460 - Westpac
FXstreet.com (Bali) - According to Sean Callow, FX Strategist at Westpac, AUD/NZD carries the momentum in its favour to test levels below 1.05.
Key Quotes
"There should be enough momentum in the bearish AUD/bullish NZD mood near term to extend AUD/NZD to a test of its 1.0460 low from 2005."
"However, the seeming one-way bet will be tested by the RBNZ’s 30 Jan
statement. The steady hand (but hawkish tone) we expect should see short-covering which could extend to 1.0740. A surprise hike would produce
fresh air under 1.0460 while a surprise statement suggesting no move in March either should see 1.0950."
Key Quotes
"There should be enough momentum in the bearish AUD/bullish NZD mood near term to extend AUD/NZD to a test of its 1.0460 low from 2005."
"However, the seeming one-way bet will be tested by the RBNZ’s 30 Jan
statement. The steady hand (but hawkish tone) we expect should see short-covering which could extend to 1.0740. A surprise hike would produce
fresh air under 1.0460 while a surprise statement suggesting no move in March either should see 1.0950."