Citi: forecasts for AUD/USD & NZD/USD
AUD/USD is range-bound between $0.9200 and $0.9470. Analysts at Citi point out that there is potential for a short-term double bottom with a break above $0.9345. Target will be at $0.9452.
NZD/USD recovered to $0.8375 after testing levels just above $0.8300, the lowest level since the end of February. Citi says that as the pairbreaks below supports including the converging upward sloping trend line and 200-day moving average and the 55-week moving average (though not yet confirmed on a closing basis), it’s poised for a decline to $0.8050.
Such forecasts make the specialists expect AUD/NZD rise to 1.1750.