AUDUSD Weekly Analysis – March 29, 2020

AUDUSD bounced strongly from 0.5507 to as high as 1.6199. Further rally would likely be seen next week, and next target would be at the falling trend line on the daily chart. As long as the trend line resistance holds, the downtrend from 0.7031 could be expected to resume, and one more fall towards 0.5500 is still possible.

AUDUSD daily chart