Bad shocks?

I have an 2005 Rendezvous CX 3.4L V6 with about 49000 miles on it. I have started hearing loud squeaking noises from my rear end. I hear these noises whenever I drive over an uneven surface no matter what speed I drive. I got out of the car and shook the vehical from side to side and was able to recreate the noise. It seams to be coming from my shocks. Both of them. Could my shocks be causing this issue? Is there something else under there that can cause this problem? Anyone that can help it will be greatly appreciated.