AUDUSD Daily Analysis – February 26, 2015

AUDUSD broke above 0.7875 resistance, indicating that lengthier consolidation of the downtrend from 0.8294 is underway. Further rise could be expected, and the target would be at 0.8000 area. On the downside, a clear break below the trend line support signal resumption of the downtrend from 0.8294, then the following downward movement could bring price to 0.7000 zone.

audusd chart