AUDUSD Weekly Analysis – March 22, 2020

AUDUSD’s downside movement from 0.7031 extended to as low as 0.5507. Further decline is still possible after consolidation and next target would be at 0.5000 area. Near term resistance is at 0.6000, a break of this level could bring the price back towards the falling trend line on the daily chart.

AUDUSD daily chart