AUD/USD Daily Forecast - 28 February

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Tuesday, Feb 27 2018

AUD/USD Daily Forecast - 28 February

Aussie spent yesterday's session in a decline going all the way to below 0.78 handle by the end of the session, being offset by hawkish Fed Chair Powell testimony since there were no major data releases from Australia. Tomorrow, we would pay attention to US GDP figures. Pair is likely to find support around 0.7750 and 0.7730 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.7850 handle.

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

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