$AUDNZD – Setting up for 200 pip drop?

With the Consumer Price Index report for the New Zealand Dollar coming out with an extremely bullish reading at 1.9% for the (YoY) for Q3 & 0.9% for the QoQ for Q3 yesterday, it put a beatdown on anything in it’s path.

The CPI is a key indicator to measure inflation and changes in prices for goods people are purchasing.

This report on top of the technical pattern I see on AUDNZD is a great sign for a potential 200 pip drop from 1.08600 down to 1.06629 from a head & shoulders pattern.

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Forex involves significant risk of loss, please do not take this as guaranteed advice.