AUDUSD Weekly Analysis – March 5, 2017

AUDUSD failed to break above 0.7778 resistance and pulled back from 1.0340, indicating that the upward movement from 0.7158 had completed. Further decline would likely be seen in a couple of weeks, and the target would be at 0.7100 area. Resistance is now at 1.0340, only break above this level could bring price back to the uptrend.

AUDUSD chart