AUD/USD Daily Analysis – Thursday, March 1

AUD/USD extended its downside movement from 0.7988 to as low as 0.7717. Further decline is still possible and next target would be at 0.7600 area. Near-term resistance is located at the falling trend line on the 4-hour chart. Only a clear break above the trend line resistance could signal completion of the downtrend.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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