AUDUSD Weekly Analysis – March 11, 2018

AUDUSD remains in the downtrend from 0.8135, the bounce from 0.7712 is likely consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 0.7500 area. Near term support is at 0.7712, a breakdown below this level could signal resumption of the downtrend. Key resistance is at 0.7988, only break above this level could trigger another rise towards 0.8350.

AUDUSD daily chart