AUDUSD Price Action Analysis - Fibo support level as a real bearish target

W1 price is below 200 period SMA (200-SMA) and below 100 period SMA (100-SMA) for the primary bearish ranging between Fibo resistance at 0.8166 and Fibo support at 0.7039:

• The price is ranging between Fibo support level at 1077.20 and Fibo resistance level at 1232.41;
• If weekly price will break Fibo support at 0.7039 so the primary bearish will be continuing, otherwise - ranging;
• "The zone between .7085 and .7165 marks a nice confluence of the 61.8% retracement of the 2001 – 2011 advance, the 78.6% retracement of the 2008 “Global Financial Crisis” low and 2011 high, the measured move of 2011 to early 2014 decline as well as a trendline connecting the secondary low in 2001 and the 2008 bottom."
• "Traction over .7200 would start to change things, but for now we’d need to see a close north of .7415 to get more excited about the upside. A close sub .7085 increases the risk a downside acceleration."

Trend:

• W1 - bearish