AUDUSD Daily Analysis – April 2, 2015

AUDUSD is testing 0.7560 support, a breakdown below this level will signal resumption of the long term downtrend from 0.9504 (Jul 1, 2014 high), then the following downward movement could bring price to 0.7000 area. Resistance is at 0.7675, only break above this level will indicate that lengthier sideways movement in a range between 0.7560 and 0.7938 is underway, then further rise to 0.7850 area could be seen.

audusd chart