AUDNZD
There is a central bank policy divergence between the RBA and the RBNZ. The RBA is opposed to negative interest rates. The RBNZ is actively open to them. This alone has opened up an AUDNZD upside bias for the next few weeks.
Today, there is also some short term AUDNZD upside bias. The extended lockdown measures out of New Zealand has weakened the NZD.
The rise in equities and positive risk sentiment is supporting the AUD.
Therefore, look for AUDNZD buyers from pullbacks. One thing to note is that there is a large option at the 1.1000 level today of $1.4 billion. That's a large option for this pair, so watch out for it's impact.
