AUDUSD Daily Analysis – February 26, 2018

AUDUSD is facing 0.7880 resistance. As long as this level holds, the bounce from 0.7790 could be treated as consolidation for the downtrend from 0.7988, and another fall to test 0.7759 support is still possible after the consolidation. On the upside, a breakout of 0.7880 resistance would suggest that the downside movement had completed at 0.7790 already, then further rally towards 0.7988 resistance could be seen.

AUDUSD 4-hour chart