AUD/USD Technical Analysis: Double Top Established Below 0.82

From dailyfx.com

The Australian Dollar broke the rising trend in play since mid-December, hinting a top against its US counterpart has been set below the 0.82 figure as expected. The currency suffered the largest one-day drop in 15 months as upbeat US jobs data overlapped with brutal risk aversion. Near-term support is now at 0.7894, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis opening the door for a test of the 50% level at 0.7819. Alternatively, a move back above the 23.6% Fib at 0.7986 exposes resistance in the 0.8066-0.8125 area once again. Prices are too close to near-term support to justify ... (full story)