AUD/USD and NZD/USD Face Key Hurdles, Downtrend Intact

AUD/USD is facing a strong resistance near the 0.6660 zone. NZD/USD is also struggling to clear the 0.5900 resistance zone.

Important Takeaways for AUD/USD and NZD/USD

· The Aussie Dollar started a fresh decline from well above the 0.6700 zone against the US Dollar.

· There is a key bearish trend line forming with resistance near 0.6650 on the hourly chart of AUD/USD.

· NZD/USD started an upside correction from the 0.5800 support zone.

· There is a connecting bearish trend line forming with resistance near 0.5850 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar failed to stay above the 0.6700 level and started a fresh decline against the US Dollar. The AUD/USD pair traded below the 0.6650 support zone to move into a bearish zone.

There was a clear move below the 0.6620 level and the 50 hourly simple moving average. The pair traded as low as 0.6575 on FXOpen and recently started an upside correction. There was a move above the 0.6620 level....More  info:  blog  FXOpen