AUD/USD Daily Forecast - 05 February

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Saturday, Feb 03 2018

AUD/USD Daily Forecast - 05 February

Aussie continued its decline in the course of the Friday's session going all the way to 0.7920 area by the end of the day. Decline was supported by better than expected US NFP figures. On Monday we expect a bit of consolidation after huge movement in the past two sessions. Pair is likely to find support around 0.7880 and 0.7850 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.7980 handle.

Long-term looking, selling is not an option at the moment, as we are still well above 0.78 handle. However, we believe pair will find plenty of resistance above 0.83 handle.

More in this category: « EUR/USD Daily Forecast - 02 February GBP/USD Daily Forecast - 05 February »

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