EUR/USD and AUD/USD both move lower

A general outbreak of risk aversion has seen both EUR/USD and AUD/USD move lower for a second day.

EUR/USD stages quick turnaround

The EUR/USD has dropped back sharply from the highs earlier in the week, although the uptrend is still intact.

Those expecting further gains will want to see the uptrend from the late-September low remain in place, while additional trendline support from the late-November low would likely come into play around $1.112.

AUD/USD retreats from recent high

Having surged to a five-month high this week, the AUD/USD price has dropped back sharply.

Further declines could go all the way back towards $0.685 and still create a higher low. Alternately, a move back above $0.6973 would help to revive some of the bullish view in the short term.

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