AUDUSD Daily Analysis – March 9, 2015

AUDUSD’s downward movement from 0.7912 extended to as low as 0.7690. Further decline to test 0.7625 support is possible, a breakdown below this level will signal resumption of the longer term downtrend from 0.9504 (Jul 1, 2014 high), then next target would be at 0.7400 area. Resistance is at 0.7785, only break above this level could trigger another rise towards 0.8000.

audusd chart