Is it too early to call the Aussie dollar peaking against the New Zealand dollar? Several analysts suggesting the AUD/NZD rally is losing momentum ahead of this week’s Reserve Bank of New Zealand decision.
Markets expect the RBNZ to deliver a 25-basis-point cut, taking the Official Cash Rate to 2.25%.
Strategists at Bank of New Zealand and National Australia Bank say the currency pair, which recently traded near decade-high levels, may start to retreat toward 1.14 if the RBNZ indicates it is close to ending its easing cycle.
Technical signals could be reinforcing the idea that AUD/NZD may be nearing a turning point. A bearish candlestick resembling a shooting star formed on 13 November, a pattern often associated with reversals after extended uptrends.
Still, not all factors favour the kiwi. Australia maintains a sizable rate advantage over New Zealand
Markets expect the RBNZ to deliver a 25-basis-point cut, taking the Official Cash Rate to 2.25%.
Strategists at Bank of New Zealand and National Australia Bank say the currency pair, which recently traded near decade-high levels, may start to retreat toward 1.14 if the RBNZ indicates it is close to ending its easing cycle.
Technical signals could be reinforcing the idea that AUD/NZD may be nearing a turning point. A bearish candlestick resembling a shooting star formed on 13 November, a pattern often associated with reversals after extended uptrends.
Still, not all factors favour the kiwi. Australia maintains a sizable rate advantage over New Zealand
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Investing in complex securities involves risk. You may lose some or all of your invested capital.
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Investing in complex securities involves risk. You may lose some or all of your invested capital.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.