AUDUSD extended its downside movement from 0.7916 to as low as 0.7678. Near term resistance is at 0.7725. As long as this level holds, the downside movement could be expected to continue and next target would be at 0.7600 area. On the upside, a breakout of 0.7725 resistance would suggest that consolidation for the downtrend is underway, then further rally to 0.7770 area could be seen.
