AUDUSD Daily Analysis – March 16, 2015

AUDUSD stays within the downward price channel on 4-hour chart, and remains in downtrend from 0.7912. Near term resistance is at the top of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.7300 area. Key resistance is at 0.7730, only break above this level could trigger another rise to 0.7850 area.

audusd chart