AUDUSD Weekly Analysis – March 4, 2018

AUDUSD broke below 0.7758 support and extended its downside movement from 0.8135 to as low as 0.7712. Further decline is still possible in a couple of weeks and next target would be at 0.7500 area. Near term resistance is at 0.7988, only break above this level could bring price back to next resistance level at 0.8135. Above this level would aim 0.8350 area.

AUDUSD daily chart