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AUD/NZD could be veering towards a breakout

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The RBNZ just delivered their third 50bp cut in a row, and they have left the door open for further easing this year. And given I expect the RBNZ's cash rate to remain beneath the RBA's for the remainder of the year, it could pave the way for a bullish breakout on AUD/NZD.

Matt Simpson, Market Analyst at City Index and Forex.com

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