AUDUSD Weekly Analysis – March 31, 2019

AUDUSD stays in a falling price channel on the daily chart and remains in the downtrend from 0.7295. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at 0.6900 area. Key resistance is at 07206, only break above this level would indicate that the downside movement had completed at 0.7003 already, then the following upside move could take the price to 0.7350 area.

AUDUSD daily chart