Formation of a bear flag on AUDNZD Daily chart.
IF this flag completes its measured move we could possibly see this pair at parity in the future.
Notable lows - 1.02850 Jun 1997, 1.03573 Jan 2015, 1.04320 Dec 2005
IF further rate cuts by the RBA come to fruition we could possibly see this currency pair fall further, see above.
NZ Finance minister Bill English says the major risk to the NZ economy at the moment is rising house prices (housing bubble) echoing Graeme Wheelers earlier statement in an press conference post rate decision.
So with that in mind I envisage a rate cut in the near future will not be forthcoming, with the RBNZ staying pat.
IF this flag completes its measured move we could possibly see this pair at parity in the future.
Notable lows - 1.02850 Jun 1997, 1.03573 Jan 2015, 1.04320 Dec 2005
IF further rate cuts by the RBA come to fruition we could possibly see this currency pair fall further, see above.
NZ Finance minister Bill English says the major risk to the NZ economy at the moment is rising house prices (housing bubble) echoing Graeme Wheelers earlier statement in an press conference post rate decision.
So with that in mind I envisage a rate cut in the near future will not be forthcoming, with the RBNZ staying pat.