AUDUSD and NZDUSD move lower on “risk-off” selling. What next technically?

The AUDUSD and the NZDUSD are lower on the day as “risk off” flows from geopolitical tension weighs on the pairs.

For the NZDUSD it has reached the lows from last week at 0.59364. So far buyers are leaning against the level. The price is bouncing marginally.

The AUDUSD has moved below a swing area between 0.6477 and 0.6486. The next target comes against a swing area between 0.6442 and 0.6455. A downslope trendline also cuts across within that area.

In this video, I outline the levels in play and show why they are important.

This article was written by Greg Michalowski at www.forexlive.com.