AUD/NZD: Signs of Reversing to the mean

FX:AUDNZD   Australian Dollar / New Zealand Dollar
43 0
AUD/NZD has been in a long protracted downtrend since 2011. However, it has started to show signs of a bounce recently.

This is another of my favorite play of AUD strength in coming months (the other being AUD/CHF going to 0.87 -- see related ideas below). With RBA going neutral, and RBNZ saying they will hold rate increase to assess the impact at the moment, this pair should see more upside movement in coming weeks / months.

I like this pair to reach 1.116, which is a nice 200 pips to the upside.

Good luck and trade safe.
Twitter: https://twitter.com/cmellon1976
Website: http://elliottwave-forecast.com/amember/...

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