It's not been a good week for the pair and near term support is once again under threat
NZDUSD is currently 0.6600 having had one attempt lower to 0.6595 so far but the supply into 0.6620-30 grows after declines from 0.6665 res/offers in Asia.
AUDUSD saw a decent rally to 0.7079 from yesterday's 0.6982 lows but once again we're down to 0.7005 knocking on the door of 0.7000 support/bids with rallies similarly finding supply.
China may have put a small finger in their dam for the moment but we're likely to see further turbulence and with the expected USD+ tones to prevail after NFPs traders have already decided to get their retaliation in first.
Should the NFPs disappoint the bulls then we may well rally back to those levels mentioned above but a fade/sell will be the strategy if so.
If we go straight down from here then we will see demand into 0.6550 for NZDUSD and 0.6980 again for AUDUSD but breaks of those levels will signal further acceleration lower. Be aware of end-of-week book squaring though.
