AUD/USD gained bearish momentum below the 0.7400 support zone. NZD/USD started a major decline after it faced sellers near 0.6815.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh decline after it struggled near 0.7450 against the US Dollar.
· There was a break below a key bullish trend line with support near 0.7390 on the hourly chart of AUD/USD.
· NZD/USD also started a major decline after it failed to stay above 0.6800.
· There was a move below a key bullish trend line with support near 0.6740 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis
The Aussie Dollar faced a strong selling interest near the 0.7450 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7420 level.
There was a clear move below the 0.7400 and 0.7380 support levels. The pair even declined below the 0.7350 support level and the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 0.7390 on the hourly chart of AUD/USD..More info: blog FXOpen
