AUDUSD Daily Analysis – February 28, 2018

AUDUSD broke below 0.7790 support, indicating that the downtrend from 0.7988 has resumed. Further decline would likely be seen in the coming days and next target would be at 0.7700 area. Near term resistance is at 0.7830, only break above this level could bring price back to test 0.7893 key resistance. Above this level could take price into 0.8000 zone.

AUDUSD 4-hour chart