AUDUSD Daily Analysis – March 23, 2015

AUDUSD moved sideways in a range between 0.7560 and 0.7912 for several months. As long as 0.7912 key resistance holds, the price action in the range could be treated as consolidation of the long term downtrend from 0.9504 (Jul 1, 2014 high), another fall towards 0.7000 is still possible after consolidation.

audusd chart