The AUD/NZD currency pair, which expresses the value of the Australian dollar in terms of the New Zealand dollar, provides traders with an interesting view into the relative demand for AUD and NZD.
Both AUD and NZD tend to correlate positively with global risk sentiment; both are considered commodity currencies by virtue of Australia and New Zealand's significant commodity exports. The chart belows shows recent AUD/NZD price action into 2020 using daily candlesticks.
(Chart created by the author using TradingView. The same applies to all subsequent candlestick charts presented hereafter.)
The steep