NZD/USD originally fell during the session on Monday, but bounced a bit. The resulting candle was a hammer, and it looks as if the 0.79 level is attempting to provide support. The 0.80 level continues to be resistive, and as a result we think the market will grind sideways. With the global outlook a bit shaky - this pair could be difficult.
The AUD/USD will be moved by the numbers in China. So far, they aren't great...the look of the "risk appetite" of the markets should continue to push this pair lower over time. Granted, the hammer for the Monday session is bullish - but the weekly chart shows a shooting star, and therefore we have to lean towards the short side if pressed.
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