AUDUSD Jumps back in Forex market
2/28/2018 7:17:40 AM
The AUDUSD pair succeeded to preserve the very important 180-day EMA support and has now recovered back to the 0.7803 handle.
With the USD merging overnight strong gains, the pair found some modest support near the 0.7785 area.
Immediate persistence is fixed near the 0.7823 area, above which the pair is probable to recover additional towards 0.7857-65 supply zone on the way 0.7903 handle. On the other hand, constant decline below the 0.7785 area would suggest a fresh bearish breakdown and pave the way for an extension of the pair's near-term bearish trajectory.
FOREX market analysis by FxErvin.