AUDUSD Daily Analysis – March 18, 2015

AUDUSD remains in downtrend from 0.7912, the rise from 0.7560 is likely consolidation of the downtrend. 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