AUDUSD Daily Analysis – March 3, 2020

AUDUSD failed to break above the resistance of the falling trend line on the 4-hour chart, suggesting that the pair remains in the downtrend from 0.6749. As long as the trend line resistance holds, the bounce from 0.6433 could be treated as consolidation for the downtrend, and further decline to 0.6400 area is possible after the consolidation. Key resistance is now at 0.6567, a break above this level could bring the price back to 0.6630 area.

AUDUSD 4-hour chart