TD trade trade of the week: Buy NZD/USD

NZD/USD up 33 pips to 0.7065 today

 NZDUSD daily

The weekly FX pick from TD Securities is NZD/USD.

They recommend buying the pair at spot with a target of 0.7200 and a stop at 0.6900.

“We entered a long NZD/USD position in our TOTW book, focusing on the major discounts priced in. It’s currently the cheapest major currency on high-frequency fair value, trading near a 4% discount,” TD notes.

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