AUD & NZD Technical Outlook

  • Big trapdoor beneath here on NZDUSD and supports close on AUDUSD 

  • 0.7177-0.7192 are the supports from Feb-March this year on NZDUSD 

  • A daily and preferably weekly close below would be a significant Break and suggest an extension of this move towards major support from 2010 at 0.6560-75. 

  • This comes at a time when the CCI (Continuous commodity index) has started to fall sharply again.

  • AUDUSD is closely tied to this and a move to test recent lows at 0.7533-0.7555 now loooks inevitable. Below there and a move towards 0.7000 looks likely.

(Citi)

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