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Bullish Price Structure

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Key Support Still Exposed

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FOREX
FOREX: We recommend getting long AUD and NZD vs. EUR, indexed to 100 with a
total return target of 106 and stop loss at 97. This is part of their top trades
for 2019 release.
- Goldman writes that "despite strong domestic fundamentals, AUD has weakened in
lockstep with other EM assets this year against a backdrop of China slowdown
concerns. NZD has faced similar headwinds, as well as additional jitters around
political tensions and a more dovish perception of the central bank. Now, with
China growth bottoming out and domestic inflationary forces starting to build,
we think there is room for a rebound. We recommend funding the trade out of EUR,
where a confluence of political risks and growth concerns is likely to cap
performance over the next few months and carry is attractive."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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