AUD/USD completed a large top on Friday and further downside is likely, with next key support seen initially at 0.7583/57, per Credit Suisse. Key quotes “AUD/USD extended its move lower on Friday, completing a large top to suggest that further weakness is likely. With daily MACD momentum also pointing lower and weekly MACD crossing below MACDA, we see support initially at 0.7651, ahead of a fresh test of last week’s low at 0.7622.” “Removal of last week’s low at 0.7622 could open up to a fall back to the cluster of supports at 0.7583/57 – the early February lows – where we would expect to see a first attempt to hold. Below here though would significantly reinforce the top and open up a much more aggressive downside, with the ‘measured top objective’ seen much lower, close to the 200-day average, currently at 0.7319.” “Resistance moves to 0.7727/30, removal of which would ease the immediate downside bias and see 0.7815/38 next. Above here would warn of a false breakout lower and favor an extension of the rangebound environment.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Binance’s MANTRA DAO listing sparks massive criticism due to fraudulent background FX Street 1 year AUD/USD completed a large top on Friday and further downside is likely, with next key support seen initially at 0.7583/57, per Credit Suisse. Key quotes "AUD/USD extended its move lower on Friday, completing a large top to suggest that further weakness is likely. With daily MACD momentum also pointing lower and weekly MACD crossing below MACDA, we see support initially at 0.7651, ahead of a fresh test of last week's low at 0.7622." "Removal of last week's low at 0.7622 could open up to a fall back to the cluster of supports at 0.7583/57 - the early… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.