AUDUSD Weekly Analysis – March 1, 2015

AUDUSD is facing the resistance of the downward trend line on daily chart. As long as the trend line resistance holds, the bounce from 0.7625 could be treated as consolidation of the downtrend from 0.9504 (Jul 1, 2014 high), another fall to 0.7000 area is still possible after consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart