AUDUSD Daily Analysis – March 3, 2014

AUDUSD broke below 0.8906 support, suggesting that the uptrend from 0.8660 had completed at 0.9080 already. Deeper decline would likely be seen, and next target would be at 0.8800 area. However, the fall from 0.9080 would possibly be correction of the uptrend from 0.8660, one more rise is still possible after correction. Resistance is at 0.8990, a break above this level could trigger another rise towards 0.9300.

audusd chart