AUDUSD Daily Analysis – March 16, 2020

AUDUSD extended its downside movement from 0.6684 to as low as 0.6094. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 0.6000 area. Near term resistance is at 0.6225, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

AUDUSD 4-hour chart