AUDUSD Daily Analysis – March 7, 2018

AUDUSD broke above the falling trend line on the 4-hour chart, suggesting that the downtrend from 0.7988 had completed at 0.7712 already. Further rise to test 0.7893 resistance is still possible, a break of this level could take price to 0.7950 area. Support is at 0.7750, only break below this level could trigger another fall towards 0.7600.

AUDUSD 4-hour chart