AUDUSD Weekly Analysis – March 18, 2018

AUDUSD broke below 0.7712 support, suggesting that the downtrend from 0.8135 has resumed. Further decline could be expected in a couple of weeks and next target would be at 0.7500 area. Key resistance is located at the falling trend line on the daily chart, only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart