NZD/USD pair fell during much of the session, but got a bit of a bounce in order to not only form a hammer, but also close positive. However, the vicinity above looks daunting, and the bulls will more than likely find their hands full at this point.
The AUD/USD pair formed an even more attractive hammer. This looks like a bounce waiting to happen, but the reality is that there are plenty of reasons to be selling now. We will be fading the rallies as they show signs of fatigue.
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