AUDUSD Daily Analysis – March 20, 2020

AUDUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 0.6684 had completed at 0.5507 already. Further rally could likely be seen in the coming days and next target would be at 0.6200 area. Near term support is at 0.5650, only break below this level could trigger another fall towards 0.5400.

AUDUSD 4-hour chart