AUD/USD Technical Analysis: Bears looking to break below 61.8% Fibo for run to 0.6954

• Bears are targetting a break below the ascending support and the 61.8% Fibo of the recent swing low/high range for a run to test 0.7002.
• On a break below 0.6954, 127.20% Fibo, there is scope for the 0.6857/78.6% retracement of the flash crash low.
• To the upside, 0.7207 is the end of February high which is just below the 0.7212 200 day ma - a potentially strong level of resistance.

AUD/USD daily chart