AUD/NZD Monthly Candlesticks & Ichimoku Chart
With the Reserve Bank of New Zealand (RBNZ) explicitly expressing their intention to weaken the currency and willing to contemplate negative interest rates and purchasing foreign assets if required, the NZD is likely to continue on a weakening path.
The Reserve Bank of Australia (RBA), on the other hand, expressed their wish to see AUD lower but would not say that AUD is currently overvalued and is unwillingly to contemplate negative rates at this point. This means that AUD will continue to outperform the NZD in the weeks and months ahead.
AUDNZD is breaking above the monthly Ichimoku cloud. A close above the cloud would be the first since early 2013. The start of this uptrend is likely to bring the pair above 1.20 and may even test 1.30 in the longer term.
The Reserve Bank of Australia (RBA), on the other hand, expressed their wish to see AUD lower but would not say that AUD is currently overvalued and is unwillingly to contemplate negative rates at this point. This means that AUD will continue to outperform the NZD in the weeks and months ahead.
AUDNZD is breaking above the monthly Ichimoku cloud. A close above the cloud would be the first since early 2013. The start of this uptrend is likely to bring the pair above 1.20 and may even test 1.30 in the longer term.