AUDUSD’s bearish movement extended to as low as 0.7732. Key resistance is now at 0.7875, as long as the price is below this level, the downtrend could be expected to continue and next target would be at the resistance-turned-support trend line on the weekly chart now at 0.7700.
On the upside, a break of 0.7800 level could bring the price back to test 0.7875 key resistance. Above this level could indicate that the downtrend had completed at 0.7732 already, then the pair would find next resistance level at 0.7986.
