AUDUSD Daily Analysis – March 2, 2015

AUDUSD is testing that support of the upward trend line on 4-hour chart. A breakdown below the trend line support will indicate that the downtrend from 0.8294 (Jan 15 high) has resumed, then the following downward movement could bring price to 0.7000 area. However, as long as the trend line support holds, one more rise to 0.8000 area is still possible.

audusd chart