AUDUSD Daily Analysis – March 4, 2020

AUDUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 0.6749 had completed at 0.6433 already. Support is at 0.6550, as long as this level holds, further rally could be expected and next target would be at 0.6700 area. Only break below 0.6550 support could trigger another fall towards 0.6400.

AUDUSD 4-hour chart