AUDUSD has had a torrid hour after support at 0.7660 gave way 17 Aug
There's been a questions asked and eyebrows raised in the comments threads about the rapid falls in both AUDUSD and NZDUSD in the past hour and it seems that renewed yen demand saw AUDUSD pushed through recent strong support lines at 0.7655-60 as AUDJPY fell, now on session and Asian lows of 76.85
I didn't hear of any stops earlier but it's safe to assume there would have been some if breached given the line had held for a while and another at 0.7640 below that.
We've seen lows of 0.7621 so far just ahead of the 0.7620 9 Aug low and the pair is still on the back foot failing to get back above 0.7640 on its bounce.
NZDUSD dragged down with it and also on the back foot.
Bids at 0.7600 and 0.7200 the next big tests for the two pairs.
