Re: Technical Analysis by FXOpen
AUD/USD And NZD/USD Facing Key Hurdles
AUD/USD declined heavily and traded below the key 0.6400 support area. Similarly, NZD/USD declined below 0.6200 and it is currently correcting higher.
AUD/USD Technical Analysis
This past week, the Aussie Dollar topped near the 0.6680 resistance area against the US Dollar. The AUD/USD pair started a fresh decline below the 0.6500 and 0.6400 support levels.
Moreover, there was a close below the 0.6400 support and the 50 hourly simple moving average. It opened the doors for more losses below the 0.6300 level and the pair traded as low as 0.6212 on FXOpen.