The Australian dollar is trading towards a record low against its neighbor New Zealand dollar. Can the antipodean cross hit parity? The team at BNP Paribas presents the case for a long on AUD/NZD: Here is their view, courtesy of eFXnews: As AUD/NZD hits a record low, fading the move offers an excellent risk reward, says BNP Paribas. “We believe that there is a potential profit in fading this week’s move to a new 30-year low on AUDNZD below 1.04, in anticipation of a rebound to 1.0850,” BNPP projects. “Our BNP Paribas FX Positioning Analysis also suggests that the sharp sell-off in AUDNZD may have run its course. NZD shorts reached a near-record level of -40 (on our scale of -50 to +50) at the end of October 2014. Part of the explanation behind the sharp rally in the NZD since then is likely the need or desire to unwind these extreme shorts in the market,” BNPP adds. “We believe there is an enticing case to enter long AUDNZD exposure at current record lows for an initial move back to around the 1.0850 level. Given that spot has already fallen below the 1.0430 level, we prefer initially to enter the trade through an option structure explained below,” BNPP advsies. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam 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 a 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. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Daily Outlooks share Read Next EUR/USD: Conclusive Breaks On Long-Term Charts – Citi Yohay Elam 8 years The Australian dollar is trading towards a record low against its neighbor New Zealand dollar. Can the antipodean cross hit parity? The team at BNP Paribas presents the case for a long on AUD/NZD: Here is their view, courtesy of eFXnews: As AUD/NZD hits a record low, fading the move offers an excellent risk reward, says BNP Paribas. "We believe that there is a potential profit in fading this week's move to a new 30-year low on AUDNZD below 1.04, in anticipation of a rebound to 1.0850," BNPP projects. "Our BNP Paribas FX Positioning Analysis also suggests that the sharp… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.