AUDUSD Daily Analysis – Thursday, Feb. 27

AUDUSD broke below 0.6585 support and extended its downside movement from 0.6749 to as low as 0.6542.

As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 0.6500 area, only break above the channel resistance could signal completion of the downtrend.

AUDUSD 4-hour chart

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