Both the AUDUSD and the NZDUSD have fallen sharply in trading today. Fundamentals are playing a key role as China slows and worries about US growth also is weighing. That has commodities moving to the downside. Stocks moving lower also contributes to the risk off sentiment.
The AUDUSD moved away from both its 100 and 200 day MAs after breaking below earlier today.
THe NZDUSD is ahead of the AUDUSD and got within sniffing distance of the lows for the year.
In this video I discussed what next after reviewing what happened. What will give the buyers a shot?
This article was written by Greg Michalowski at www.forexlive.com. Source