With the clear break of the weekly ascending support line, AUDUSD is likely to decline towards the weekly low surrounding 0.5700. However, 23.6% of Fibonacci retracement could offer an intermediate halt to the pair around 0.5780. If the Aussie prices remain on the back foot past-0.5700, 0.5630, 0.5510 and 0.5500 will be on the Bears' radar.
Alternatively, the pair's pullback moves beyond the support-turned-resistance near 0.5950/55 will have to clear 0.6075 to target a 50% Fibonacci retracement level near 0.6100. If at all the bulls manage to remain positive beyond 0.6100, 61.8% Fibonacci retracement and the weekly top, respectively around 0.6235 and 0.6330, could return to the charts.