Let's look at the AUDUSD weekly chart today, we could see the upper zone .64-645 was a major support zone prior to the drop in early March 2020. AUDUSD price then came back up but failed to break this .64-645 area in the last three weeks. This is a pretty strong sell zone here.&nbsp;
 
On the other hand, another key zone we can see on the weekly timeframe is .615-62 where the zone was being tested three times in March before the spike up in the first week of Apr. We may see AUDUSD to come back to this resistance turned support level in the coming weeks. If AUDUSD fails to break below this support zone and stays above AUDUSD, I would treat this as a confirmed support zone. I would anticipate AUDUSD to go back up 150-200 pips to restest the resistance zone. My bias is this will break above the resistance zone and go higher in few months time. Lets come back and see!
 
My personal views only. This is not an invitation to trade.
 
Happy Trading!

AUDUSD WEEKLY CHART - Major Key Zones

Dec 01 2020