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SunBirdFX Daily Market Analysis : 02/27/2013
Yesterday was relatively quiet after Monday's Insanity. The only currency that has had any sort of significant movement was the New Zealand dollar. A big move in the market always means a great deal but the absence of movement can say something as well.
Gold also had some nice moves- GOLD came down with a bang to the 1555 low and yesterday with Mr Bernanke’s encouragement the precious metal flew back above 1600 to 1620. The big picture remains bearish for a test of the support around 1525 and only a clear break above 1630 might change the picture.
AUDUSD is flirting with a weekly breakout to the downside. Pay attention if 1.0200 gives way and try to catch the breakout.
We also have the Fed Bernanke and ECB's Draghi's speeches today at 16:00 and 18:30 server time.