AUD/USD Weekly Analysis – Sunday, March 18

AUD/USD broke below 0.7712 support, suggesting that the downtrend from 0.8135 has resumed.

A further decline could be expected in a couple of weeks and the next target would be at 0.7500 area.

Key resistance is located at the falling trend line on the daily chart, and only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart

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