ANZ note that "the recent sharp.........>

AUSSIE-KIWI: ANZ note that "the recent sharp decline in AUD/NZD is providing a

tactical trading opportunity. As tension in the Middle East eases, relative

economics will return to focus, and on this front the cross has overshot. We

recommend a tactical long AUD/NZD position at 1.0385, with a target of 1.0620.

We would reassess the trade on a break below the March 2019 closing low of

1.0290. The AUD/NZD has fallen precipitously in the last couple of weeks,

re-testing the lows of 2019. While to some degree a touch of weakness is

justified, given the relative stabilisation in the New Zealand economy alongside

sustained weakness in Australia, we think this has now gone too far."