AUD/USD - Extends Its Losses and Profit Booked at 0.7840! - 08/16/2017 (GMT)

The commodity currencies extended its losses against the U.S. dollar over a previous couple of sessions. The AUD/USD pair posted the third consecutive negative day and created a new one-month low at 0.7807, while it plunged below our suggested target at 0.7840 key level (see the previous technical analysis here: http://bit.ly/2v0AUEE). The next target to have in mind is the 0.7785 strong barrier which coincides with the 50-day SMA and the 23.6% Fibonacci retracement level with low at 0.6825 and high at 0.8065. MACD and RSI are declining within the bearish path with strong momentum.