AUDUSD Daily Analysis – March 1, 2018

AUDUSD extended its downside movement from 0.7988 to as low as 0.7717. Further decline is still possible and next target would be at 0.7600 area. Near term resistance is located at the falling trend line on the 4-hour chart. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD 4-hour chart