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.

AUDUSD 4-hour chart

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