AUDUSD Daily Analysis – March 12, 2019

AUDUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 0.7198 had completed at 0.7003 already. Further rally could be expected and next target would be at 0.7150 area. Support is at 0.7050, below this level could bring the price back to 0.7020 area.

AUDUSD 4-hour chart