AUD/USD fell precipitously on Thursday as traders dumped risky assets around the world. The breaking below parity is significant and we feel that this pair has entered a new phase at this point. The parity level should be a roof on prices for the time being, and selling rallies might be the way to go at this point in time.
AUD/NZD just emphasizes the weakness in the AUD in general. The AUD fell hard on a day that both currencies were sold off against the USD. This shows us that the AUD is in trouble going forward.
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