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.
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.