AUDUSD Weekly Analysis – March 15, 2020

AUDUSD extended its downside movement from 0.7031 to as low as 0.6122. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to continue and next target would be at 0.5900 area. Key resistance is at 0.6684, only break above this level could signal completion of the downtrend.

AUDUSD daily chart