AUDUSD Daily Analysis – March 18, 2020

AUDUSD extended its downside movement from 0.6684 to as low as 0.5958. Further decline is still possible after a minor consolidation and next target would be at 0.5900 area. Near term resistance is at 0.6060, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

AUDUSD 4-hour chart