Flash: Short term bullish on AUD/NZD - ANZ

FXstreet.com (Barcelona) - According to Andrew Salter, FX Strategist at ANZ Research, there is a good opportunity to play a long position on AUD/NZD around current levels of 1.1482, targeting 1.1855 with a stop at 1.1220.

Key Quotes

"The coming FOMC tapering is testing the durability of economies in Asia that rely on easy money financing."

"A side effect of New Zealand’s macro-prudential measures introduced this week is to discourage capital inflows, meaning policymakers there are actually working in the same direction as the FOMC, and doubling-up the downward pressure on the NZD within the broader context of Asian financial market stress."