AUDUSD Weekly Analysis – March 6, 2016

AUDUSD broke above 0.7439 resistance, indicating that the long term downtrend from 0.9504 (Jul 1, 2014 high) had completed at 0.6826 already. Further rise could be expected, and next target would be at 0.8000 area. Support is at 0.7100, only break below this level could bring price back to test 0.6826 key support.

audusd chart