The weaker US data has the AUDUSD and NZDUSD moving higher (lower USD).
For the AUDUSD it has moved in between its 100 and 200 hour moving averages at 0.6527 and 0.6549. The price needs to get outside of that range to either increase the bullish bias or increase the bearish bias.
For the NZDUSD, it rose above its 100 and 200 hour moving averages earlier this week, and instead looks toward its 100 bar moving average on the 4-hour chart at 0.5987. Above that is the 38.2% retracement of the move down from the June high. That level comes in at 0.59957.
Also in this video, I take a look at the NASDAQ index in the S&P index from a technical perspective after their sharp declines.
This article was written by Greg Michalowski at www.forexlive.com.
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