Westpac Research notes:
AUD/NZD 1 day: Yesterday's sharp fall possibly marks the start of a correction of the rally which started in early April.
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.






