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Technical analysis for AUD/USD, the pair reached the second target of the daily bearish run and previous low at 1.618 FIB extension at 0.7110. Further declines are in favor. The next target of the bearish run is the 0.386 FIB retracement on the monthly chart at 0.7055 and the low at 0.6990. If the AUD/USD pair breaks below 0.6990, it will open the door for a bearish run toward first, the 1.272 FIB extension on the weekly chart at 0.6945. The second target is the 1.618 FIB extension on the weekly chart at 0.6760, which is 0.500 FIB retracement on the monthly chart and a support zone.
The zone between the 0.386 FIB retracement at 0.7280 and the high at 0.7370 is a resistance zone for the AUD/USD that may offer selling opportunities.
Daily chart:
Weekly chart:
Monthly chart:
