AUD/USD Weekly Outlook

AUD/USD's decline last week argues that a short term top was already formed at 0.7833, ahead of medium term fibonacci level at 0.7849. Further decline is expected this week as log as 0.7690 resistance holds. AUD/USD should target 38.2% retracement of 0.6826 to 0.7833 at 0.7448 first. Sustained break there