Flash: Accumulate AUD/NZD dips for a potential 1.20 target - ANZ

FXStreet (Bali) - AUD/NZD cross presents an opportunity to go long, according to Daniel Been and Sam Tuck from the ANZ Research Team.

Key Quotes

"Australian corporations should hedge future cash-flow from NZ subsidiaries. Conversely, now is the time for New Zealand to acquire Australian assets."

"For FX investors we recommend owning AUD/NZD with a view to accumulating on dips for a move back to longer run averages near 1.20 over the coming years. We do not expect that drawdowns will exceed the post-float lows near 1.04."