AUDUSD Daily Analysis – March 8, 2017

AUDUSD’s bounce from 0.7542 extended to as high as 0.7632. However, the bounce is likely correction of the downtrend from 0.7740. Resistance is now at 0.7650, as long as the pair stays below this level, then downtrend could be expected to resume and next target would be at 0.7400 area.

AUDUSD chart