The 50 basis point cut from the RBA and weak Q1 jobs report from New Zealand.
After a rallying late last week, both currencies declined for 5 consecutive days this week.
The NZD/USD weekly chart has clearly broken down and could well be on its way to 0.75/74 but I would expect a bounce back to .8000/60 before it resumes declining.
AUD/JPY is similar with a move to the 61.8% retracement level at 80.05 likely.
The most-interesting chart might be CAD/JPY as it touches the lowest levels since late February. A clean break below 80.00 would point to a similar-sized move to the AUD and NZD breakdowns.
