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Macro, model and technical process neutral on AUD and NZD - Westpac

FXStreet (Bali) - Westpac Global Strategy Group shares its view on the AUD and NZD, noting that AUD should continue to find committed buyers on dips, while the NZD is likely to struggle near term.

Key Quotes

"A broadly stable domestic story should see AUD/USD continue to find buyers on weakness. But disappointing iron ore price action following the China rate cut and AUD's sensitivity to JPY swings suggest rallies will struggle around 0.8650/0.8700."

"NZD's prognosis had been turning less negative but with dairy prices resuming their fall and inflation expectations falling in the RBNZ's latest survey the focus should turn back to the downside, with scope for it to fall to 0.7700 during the next few days."

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