AUD/USD - Has a Strong Bearish Pressure - Met Our Suggested Target at 0.7750! - 10/25/2017 (GMT)

Aussie is spending the last four days under pressure against the greenback and also today it is having a strong sell-off. The AUD/USD pair plummeted more than 2% following the rebound on the 100-day SMA in the prior week. Additionally, the price reached our target of 100 pips at 0.7750 price level (see technical analysis here: http://bit.ly/2i34lBM) and is trading sharply lower near the strong support barrier at 0.7710, which coincides with the 200-day SMA.

In case of further bearish run, the price will open the door for the next immediate level at 0.7630, which is the 50-week SMA and there are no obstacles until that barrier. Also, on the short-term timeframe, the MACD oscillator printed a downward cross with the trigger line indicating further losses on price. The RSI indicator is heading to south with strong momentum near the 30 level.