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MujkanovicFX

AUDNZD new 2019 low, more room to the downside

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Dólar Australiano/Dólar Neo-Zelandês (FX:AUDNZD)  
MujkanovicFX  
FX:AUDNZD   Dólar Australiano/Dólar Neo-Zelandês
Trend Analysis Chart Patterns Beyond Technical Analysis aud NZD AUDNZD SELL sellsetup short tradesignal
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trendanalysis chartpattern beyondta aud nzd audnzd sell sellsetup short tradesignal
This morning's Australian GDP report caused a sell-off in the Aussie as investors assess the likelihood of an RBA rate cut. GDP growth came in 0.2% q/q vs 0.5% expected.

From a technical standpoint, the AUD/NZD pair has formed a valid sell setup which is now confirmed by a fresh 2019 low. The SHS pattern has been triggered, a pullback is completed and there seems to be more downside potential in the pair.
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