AUD/NZD trade recommendation – entry, target, stop loss

  


Credit Agricole are looking at a long entry on the Australian dollar against the New Zealand  

Citing:

  • NZD has risen too far 
  • leaving AUD/NZD undervalued significantly
  • RBA sounding more upbeat than the RBNZ on their economic outlook
  • RBA closer to a hike than the RBNZ
  • Reduction in US China trade tension recently should be better for AUD (compared to for NZD)

Recommendation:

  • Look to enter AUD/NZD at 1.0748
  • Targeting 1.1050
  • Stop-loss 1.0590

Here is a daily chart (FX charts are free on forexlive, here)



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