AUDUSD Daily Analysis – March 9, 2017

After consolidation, AUDUSD continued its downward movement from 0.7740 and dropped to as low as 0.7517. Further decline is still possible after a minor consolidation, and next target would be at 0.7400 area. Near term resistance is at the falling trend line on 4-hour chart, and the key resistance is at 0.7632, only break above this level could signal completion of the downtrend.

AUDUSD chart