AUD/USD fell during the session on Monday, breaking a trend line that had been holding the market up for the summer. The uptrend channel has been broken below, and as a result it looks as the 1.03 level is the next target. The first warning would have been the way that this pair reacted very poorly to the Chinese stimulus announcement earlier in the session.
The NZD/USD seems to be fairing a bit better at this point, but mainly because of the fact that the supportive area just below that looks fairly solid. The pair isn't a buy - but isn't a sell either.
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