NZD/USD rose on Thursday, but fell hard by the end of the session as global jitters continue to rattle the markets. The commodity markets are being beat down recently, and the Kiwi dollar is very sensitive to those markets. Because of this, we think a breaking of the Monday lows could be a longer-term sell signal.
AUD/USD is in a similar situation as the NZD/USD. The pair is very sensitive to commodities such as copper and gold, both of which have been absolutely slammed over the last few weeks. With this in mind, we are looking for a sell signal in the form of breaking the Monday lows.
Create a FREE account