Westpac Research notes:
AUD/NZD 1 day: Impressive surge yesterday almost reached our 1.1300 medium term target. That level should provide some resistance.
AUD/NZD 1-3 month: The RBA will probably remain on hold (albeit with easing risk), while the RBNZ is currently in easing mode. Expected RBA vs RBNZ direction thus favours AUD/NZD over the medium term. 1.1300 is now in sight, 1.1580 the next major target beyond that.


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