FXstreet.com (London) - The AUD and NZD have both traded to the downside so far this session versus Greenback, with low volumes exacerbating some renewed Dollar strength in Asian trading. The historical correlation has held this session, both pairs losing over 20 pips.

AUD is currently trading at 0.8910, down 22pips, and the Kiwi at 0.7143, for a loss of 20 pips.

Moves in the pairs are likely purely technical form the Dollar side, with little in terms of local news effecting the pairs. Both pairs have risen throughout this year, but slowed recently. Massive reduction in Dollar shorts could suggest carry trades closing which would imply the parallel closure of long AUD and NZD positions.

Support for AUD/USD is the same as the previously reported, 0.8870, and for NZD/USD, support is unchanged and found at 0.7135 .

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