Daily outlook for AUD/NZD: Westpac

Quotes from Westpac Research:

- AUD/NZD 1 day: The bounced above the 1.0301 record low is now three days old and showing signs of persistence. Pullbacks should be contained by 1.0420, with the upside's 1.0480 vulnerable.

- AUD/NZD 1-3 month: There's much chatter about reaching parity. That's possible, but our core view is the cross will oscillate around 1.05 for much of this year, and then decline into 2016.  While there is arguably too much easing priced into the AUD, markets easily overshoot. That, combined with less appetite to short the NZD since the RBNZ's on-hold reaffirmation, makes trying to pick the exact cycle bottom a risky affair.