AUDUSD Weekly Analysis – March 15, 2015

AUDUSD broke below 0.7625 support, indicating that the downtrend from 0.9504 (Jul 1, 2014 high) has resumed. Further decline could be expected, and next target would be at 0.7000 area. Near term resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend will continue. Key resistance is at 0.7912, only break above this level could signal completion of the downtrend.

audusd chart