MUFG trade of the coming week: Sell AUD/NZD
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Trade idea from Mitsubishi UFJ
Consider selling AUD/NZD this week, suggests MUFG Research.
From a spot reference level of 1.0565, they have a target of 1.0250 and a stop at 1.0750.
“We are recommending a new short AUD/NZD trade idea. Australia has been hit harder by renewed covid disruptions which will encourage wider policy divergence between the RBA and RBNZ,” they note.