AUD/USD Daily Forecast - 13 February

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Tuesday, Feb 13 2018

AUD/USD Daily Forecast - 13 February

Aussie spent yesterday's session in an uptrend, despite no major data releases, with pair going all the way to 0.7850 handle by the end of the session, which is a sign of a strong support around 0.78 area. Tomorrow, we would pay some attention to NAB Business Confidence figures. Pair is likely to find support around 0.78 and 0.7780 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.79 handle.

Long-term looking, buying is not an option at the moment, despite this rebound. Trend is bearish at the moment, so we believe it is best to stay on the sidelines at the moment.

More in this category: « EUR/USD Daily Forecast - 12 February GBP/USD Daily Forecast - 13 February »

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