MS: long-term forecast for AUD/NZD
Analysts at Morgan Stanley are very bearish on AUD/NZD and expect it to weaken to 0.9900. The currency pair has recently made a false break out of the 2-year downtrend channel around 1.0930, but then came back to trade within it. Their forecast is based on the Elliott wave analysis (see the chart) – the specialists expect the pair to decline within the wave 5.
Chart. Monthly AUD/NZD