The broad US dollar strength that was seen in October has faded in November, particularly with the USD weakening within G3, against the Euro and Japanese Yen.
BUT, the US$ has stayed firm against the Dollar bloc currencies of AUD, NZD and CAD.
For NZDUSD, early November upside correction activity has run its course, leaving bearish pressures from the bigger down trend from the summer.
This leaves a NZDUSD bear trend extension bias through mid-November.
Similarly, for AUDUSD, the bear trend evident from September has re-energized in the past week with surrender of the late October low.
Again, the threat for the balance of the month (and maybe into December), is for a far deeper bear move extension.
For more detailed technical analysis and screencast, go here: