AUD/USD and NZD/USD Might Struggle To Recover Losses

AUD/USD gained bearish momentum below the 0.7150 support zone. NZD/USD started a major decline after it faced sellers near 0.6565.

Important Takeaways for AUD/USD and NZD/USD

· The Aussie Dollar started a fresh decline after it struggled near 0.7265 against the US Dollar.

· There was a break below a major bullish trend line with support near 0.7160 on the hourly chart of AUD/USD.

· NZD/USD also started a major decline after it failed to stay above 0.6550.

· There was a move below a key bullish trend line with support near 0.6445 on the hourly chart of NZD/USD.

AUD/USD Technical Analysis

The Aussie Dollar faced a strong selling interest near the 0.7265 level against the US Dollar. The AUD/USD pair started a major decline below the 0.7200 level.

There was a clear move below the 0.7160 and 0.7150 support levels. Besides, there was a break below a major bullish trend line with support near 0.7160 on the hourly chart of AUD/USD. The pair declined below the 50% Fib retracement level of the upward move from the 0.7030 swing low to 0.7265 high (formed on FXOpen)....More  info:  blog  FXOpen