AUD/USD attempted to break above the parity level on Wednesday, only to fail and form a nice shooting star. The candle suggests that the pair looks to fall at this point, and we think that another leg down could be in the works....
The NZD/USD pair acted in a similar manner as the RBNZ left rates on hold this morning. The outlook has weakened globally, and as a result the Kiwi dollar will more likely than not suffer as a result. The commodity markets are going to be key - and so will the 0.78 level.
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