AUD/USD: A Buy On Dips In The 0.6800/50 Zone; AUD/NZD: Attractive Entry Levels For Longs – TD

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The Australian dollar has been on the back foot amid geopolitical tensions. Where next?

Here is their view, courtesy of eFXdata:

TD Research discusses AUD outlook and adopts a buy-on dips bias in AUD/USD, and AUD/NZD. TD is long AUD/NZD* strategically as one of its top trades for 2020.

“AUD remains topical following the collapse to start the year. It now trades with a nice discount on our metrics, which, when coupled with positioning, suggests much bad news sits in the price. We like buying on dips in the 0.6800/50 zone, reflecting a reduction of this risk premium,” TD notes.

We also note that AUDNZD now trades at a 2.5% discount to HFFV, offering attractive entry levels,” TD adds.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.