AUD/USD has been bearish since failing to clear above a key resistance around 0.81. $AUD/USD Daily Chart(click to enlarge)Bears in Charge:- Note the signs that this is a bearish market other than the fact that price has been making lower highs and lower lows.- Price is staying below the band of 200-, 100-, and 50-day simple moving averages (SMAs), at times treating them as resistance.- The RSI has been able to dip below 30, and has been holding under 60, a dynamic that reflects maintenance of bearish momentum.- Last week, the market treated a falling trendline and the 50-day SMA as resistance factors.- Price broke below the range support and closed just under 0.73. - This is a bearish continuation breakout and opens up the next key support around 0.7155. - On the weekly chart we can see that the 0.7155 area is a common support. - With the weekly RSI falling towards the oversold area, we should anticipate support here around 0.7150. AUD/USD Weekly Chart(click to enlarge)