AUD/USD Weekly Outlook - ranging bearish to S2 Pivot level

Weekly price is on bearish market condition located below of 100-period SMA (100-SMA) and below 200-period SMA (200-SMA) for ranging within key levels:

• the price is ranging between 0.8541 resistance and 0.7233 support levels;
• ascending triangle pattern is fomed with 0.7233 level;
• Nearest support levels are 0.7233 and S2 Pivot at 0.7129;
• Nearest resistance levels are S1 Pivot at 0.7609 and 0.8541 located near yearly Central Pivot on the reversal between bullish/bearish on the chart.

• if the price breaks 0.7233 support on close weekly bar so the bearish trend will be continuing with the secondary ranging up to S2 Pivot at 0.7129 as the next target;
  
• if weekly price breaks 0.7129 support level so we may see good breakdown of the price movement;
• if not so the price will be range within the levels.