AUDUSD Price Action Analysis - crossed 61.8% Fibo level for 0.7552 next support level

W1 price is located below 200 period SMA and 100 period SMA for the primary bearish with secondary ranging between 0.7552 support level and 0.8158 resistance level:

• The price is ranging between ranging between 0.8158 and 0.7552 levels;
• The price broke trendline and 61.8% Fibo level at 0.7776 on close weekly bar for downtrend to be continuing, and stopped near 0.7552 support level trying to cross it from above to below;
• If weekly price will break 0.7552 support level so the primary bearish will be cintinuing, otherwise the price will be ranging within the familiar levels;
  
• “A broadening bottom pattern yields an objective of .8342 (just above the Jan high at .8294) but AUDUSD has met the line that extends off of the Aug 2013 and Jan 2014 lows (former support).”
• “The mentioned line pinpointed the high and AUDUSD is approaching trend lows. The next support area is probably the trendline that extends off of the 2001 and 2008 lows (7 year cycle lows?) near .7100 through most of June. Exceeding .7818 would suggest that additional sideways is in order and delay the next bear leg.”

Trend:

• H4 - bearish breakdown
• D1 - ranging bearish
• W1 - ranging bearish
• MN1 - bearish breakdown