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A rate cut by the RNZB looks likely on Wednesday evening
After the RBA rate cut last week, it is likely that New Zealand will follow
Interest rates are at 2,25% and will probably get lowered to 2%
Nzd is quite low against the Usd already - and a rate cut for Aud did not hurt it too much
I guess I will be building up shorts towards the decision,
because with all that is going on in the world the chance of a rate cut is very high
I do not expect NzdUsd to fall a lot though, and I will be careful to cash any initial downside,
as it seems likely Nzd will bounce against the weak Usd just as Aud did
EurNzd long could prove to a better trade, and I like NzdJpy and NzdChf shorts too
Enjoy your Sunday - and good luck next week all!
p.s. Here is a potential setup for a short NzdUsd - head and shoulders pattern on daily chart:
Also, check this technical analysis on Trading Central:
After the RBA rate cut last week, it is likely that New Zealand will follow
Interest rates are at 2,25% and will probably get lowered to 2%
Nzd is quite low against the Usd already - and a rate cut for Aud did not hurt it too much
I guess I will be building up shorts towards the decision,
because with all that is going on in the world the chance of a rate cut is very high
I do not expect NzdUsd to fall a lot though, and I will be careful to cash any initial downside,
as it seems likely Nzd will bounce against the weak Usd just as Aud did
EurNzd long could prove to a better trade, and I like NzdJpy and NzdChf shorts too
Enjoy your Sunday - and good luck next week all!
p.s. Here is a potential setup for a short NzdUsd - head and shoulders pattern on daily chart:
Also, check this technical analysis on Trading Central:
