AUD/NZD rose from 1.0820 to 1.0870 – a 12-month high. Economists at Westpac expect the pair to hit the 1.0950 mark with potential to reach the 1.10 level in the long run.

Global commodity boom and AUD/NZD’s undervaluation are supportive

“The break above 1.08 has been sustained, targeting 1.0950 multi-week.”

“The global commodity boom and AUD/NZD’s undervaluation are supportive, and could help take the cross towards 1.10 multi-month.”