In the video above I take a look at both the AUDUSD and the NZDUSD from a technical perspective. From that perspective, each are doing similar things.
- For the AUDUSD, the upside was capped by its 200-hour moving average
- For the NZDUSD, the downside was supported by its 100-hour moving average.
Both are staging the up and down battle coming off lows from yesterday that go back years. That keeps the sellers more in control but buyera are also looking to make a play. They have work to do, however.
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This article was written by Greg Michalowski at www.forexlive.com. Source