Macro winds are blowing in favour of the AUD over the NZD – DBS Bank

AUD/NZD has rallied to recent highs of 1.1174. Benjamin Wong, Strategist at DBS Bank, retains constructive bias on the pair.

Terms of trade divergence favours the AUD over the NZD

Terms of trade divergence favours the AUD over the NZD, and unless the cross sustains losses under 1.0806, buying pullbacks is preferred.” 

“Further upside targets a neckline calibrated target at 1.1251, followed by 1.1324.”