Case for AUD/NZD having formed a cycle low - Westpac

FXStreet (Bali) - According to Westpac FX Team, the AUD/NZD has recently been favoured by some diverging fundamentals positive for the pair, suggesting a cycle low might be in place.

Key Quotes

"The steeper than expected drop in benchmark NZ dairy prices helps cement the case for AUD/NZD having formed a cycle low. Indeed AUD is looking more promising on several crosses, albeit not so much versus the US dollar."