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- AUD/NZD: Rebound to hit resistance at the February low - Citi
AUD/NZD: Rebound to hit resistance at the February low - Citi
eFXdata reports that Citi discusses AUD/NZD outlook.
"AUDNZD does not have a significant correlation to the long-term interest-rate spread either over the long term, but similarly to AUDUSD, the correlation has recovered recently. The recent rebound by AUDNZD is consistent with the small contraction in the yield spread. However, given the difference in the stances towards the normalization of monetary policy between the RBA and the RBNZ, the yield differential will likely begin to widen again. We expect a rebound in AUDNZD to hit resistance at the February low of around 1.055," Citi adds.
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