AUD/USD and NZD/USD Gain Bearish Momentum Below Support

AUD/USD is moving lower and approaching the 0.6220 support. NZD/USD is also declining and showing bearish signs below 0.5600.

Important Takeaways for AUD/USD and NZD/USD

· The Aussie Dollar started a fresh decline from well above the 0.6320 zone against the US Dollar.

· There was a break below a connecting bullish trend line with support at 0.6265 on the hourly chart of AUD/USD.

· NZD/USD is gaining bearish momentum below the 0.5600 support zone.

· There was a break below a key bullish trend line with support at 0.5595 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar failed to stay above the 0.6400 level and started a fresh decline against the US Dollar. The AUD/USD pair traded below the 0.6350 support zone to move into a bearish zone.

There was a clear move below the 0.6300 level and the 50 hourly simple moving average. During the decline, there was a break below a connecting bullish trend line with support at 0.6265 on the hourly chart of AUD/USD...More  info:  blog  FXOpen