Commodity currencies could be in trouble after yesterday’s Fed meeting sparked a sell-off in gold and inspired US Dollar bulls.
AUD/USD is eyeing a retest of the critical support level near 0.7000, but next week’s RBA meeting could still help prevent a downside breakout. NZD/USD could also be exposed to further downside as losses accelerated to take the pair to new lows.
Where are these two pairs headed next?
Click the link for an in-depth technical analysis by one of our senior analysts: