The AUDUSD is moving to a new session low into the US close and in the process is dipping below the 38.2% of teh move up from the May 12 low at 0.7109. The low price has reached 0.70956 so far. The next target comes in at 0.7071. Below that the 50% at 0.70555 would be eyed.
For the NZDUSD it is already below its 50% midpoint at 0.6395, after the corrective high today, briefly moved above the topside trend line only to fail on the break. The move lower also took the pair below a swing area between 0.6408 and 0.64167. That level is now close risk. Stay below is more bearish in the new trading day.
This article was originally published by Forexlive.com. Read the original article here.