AUD/USD started a fresh decline from well above the 0.7500 zone. NZD/USD accelerated lower and it is now consolidating near the 0.7080 zone.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh decline from well above 0.7500 against the US Dollar.
· There is a key bearish trend line forming with resistance near 0.7470 on the hourly chart of AUD/USD.
· NZD/USD also declined after it failed to clear the 0.7200 resistance.
· There is a major bearish trend line forming with resistance near 0.7160 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis
The Aussie Dollar failed to stay above 0.7500 and started a major decline against the US Dollar. The AUD/USD pair broke the 0.7450 and 0.7420 support levels to move into a bearish zone.
The pair even broke the 0.7400 support level and the 50 hourly simple moving average. The pair traded as low as 0.7378 on FXOpen and it is now consolidating losses. An immediate resistance is near the 0.7400 level....... More info: blog FXOpen
