Westpac Research Notes:AUD/NZD 1 day: The next major target is 1.1000. The cross has risen 9 cents during the past month and is looking technically stretched but such stretched conditions can persist for weeks.AUD/NZD 1-3 month: The RBA will probably remain on hold (albeit with easing risk), while the RBNZ has a conditional easing bias. Expected RBA vs RBNZ direction thus favours AUD/NZD over the medium term, such that 1.1300 is feasible.
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