Westpac Research notes:
AUD/NZD 1 day: The abrupt reversal overnight confirmed 1.1300 as a major obstacle.
AUD/NZD 1-3 month: The RBA will probably remain on hold (albeit with easing risk), while the RBNZ is currently in easing mode. Expected RBA vs RBNZ direction thus favours AUD/NZD over the medium term. 1.1300 is now in sight, 1.1580 the next major target beyond that.