AUD/USD Daily Forecast - 02 March

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Thursday, Mar 01 2018

AUD/USD Daily Forecast - 02 March

Aussie went back and forth in the course of the yesterday's session with support around 0.77 handle and resistance above 0.7750 area around which pair finished the session. Pair was offset by weaker than expected Private Capital Expenditure figures. Tomorrow, we expect similar session as there will be no major data releases. Pair is likely to find support around 0.7730 and 0.77 handle, so these would be our short-term buying points, while we can expect some amount of resistance above 0.7830 handle.

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

More in this category: « EUR/USD Daily Forecast - 01 March GBP/USD Daily Forecast - 02 March »

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