Outlook on AUDUSD: Bearish play seen

On the daily time frame, prices are currently testing a key supply zone where we could see further downside below the supply zone. On the H2 time frame, a pullback to the resistance area, in line with the 50% fibonacci retracement and 78.6% Fibonacci extension presents an opportunity to play the drop to the next support target at 0.70902. Ichimoku cloud is showing signs of bearish bias as well.