- Analytics
- News and Tools
- Market News
- AUD/NZD: Scope for further recovery towards 1.0850 - NAB
AUD/NZD: Scope for further recovery towards 1.0850 - NAB
eFXdata reports that NAB Research sees a scope for AUD/NZD to extend higher towards 1.0850.
"We see the recovery in AUD/NZD over the past few weeks as justified, post the overshoot to parity. NZ's government-imposed has bee more restrictive than Australia's which could impart a more preeminent scar on the NZ economy as businesses fold.
Importantly, the RBNZ's likely QE path is much greater than the RBA's, a positive fore for AUD/NZD," NAB notes.
"Based on these macro factors, the rise in the cross could have a lot further to run. ST and LT valuation metrics are higher than current spot. Key technical resistance is at 1.0850," NAB adds.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
