AUDUSD Daily Analysis – March 10, 2015

AUDUSD continued its downward movement from 0.7912, and the fall extended to as low as 0.7656. Further decline to test 0.7625 support could be expected, a breakdown below this level will indicate that the longer term downtrend from 0.9504 (Jul 1, 2014 high) has resumed, then the following downward movement could bring price to 0.7400 area. Resistance is at 0.7785, only break above this level could trigger another rise towards 0.8000.

audusd chart