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.