AUD/NZD: some observations
AUD/USD is moving sideways around the lower border of the descending channel from summer 2012. The pair keeps fluctuating around 1.2000.
Lloyds expect Aussie to continue underperforming against kiwi, but think that support at 1.1930 (2009 low) might hold for now. Below this level AUD/NZD will be vulnerable for a decline to mid-Sept 2008 lows at 1.1806. Resistance lies at 1.2003 and 1.2070.
BNZ points out that NZD is now regarded as the higher risk currency compared to AUD: NZ interest rates have finally moved back above their Australian counterparts.
Сhart. Daily AUD/NZD