For last few months constant push - pull is going on between AUD and NZD. When all is good and things are going well, it's easy to play risk on / risk off by either buying or selling both currencies against the US Dollar. But current picture is muddy when both Australian and New Zealand dollar are having race to the bottom. RNBZ just cut the rate this week but still that doesn't make the life easy because RBA can also act similarly and we don't want to get caught short or long AUDNZD at wrong levels.
Currently we are playing the range of 1.0900 to 1.1300 with upward bias. If it manages to break 1.1300 and settles then the test of 1.1500 will be quick. Until then let's rinse and repeat - buy near 1.0900 and offload at 1.1300 or you can short with tight stop if there is quick spike towards 1.1400.
Currently we are playing the range of 1.0900 to 1.1300 with upward bias. If it manages to break 1.1300 and settles then the test of 1.1500 will be quick. Until then let's rinse and repeat - buy near 1.0900 and offload at 1.1300 or you can short with tight stop if there is quick spike towards 1.1400.