Here is the point: For last 4 year, the bias to trade AUDNZD is just SELL because there was a strong divergence between RBA and RBNZ: While RBA just wanted to cut rate,RBNZ wanted to hike rate. However, the situation now changes to opposite view.: RBA wants to hold rate while RBNZ wants to cut rate.
That is the key point. Market shifted appetite. and BUY AUDNZD is a good choice.
Look at on the chart, AUDNZD hold below the handle 1.1600 since Sep,2013.
And it now stands firmly above key support 1.1060
I think it's enough momentum for AUDNZD rallies to 1.1600 handle.
I recommend traders buy in dip AUDNZD to three year high 1.1600
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