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:
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