AUD/USD - If 0.7710 holds
AUD/USD - If 0.7710 breaks
AUD/USD is currently testing important resistance near 0.7710, what happens at this resistance will determine whether a direct decline towards 0.6100 is seen or a detour past 0.8138 is needed first.
If important resistance at 0.7710 is able to cap the upside for a break below 0.7502, then a direct decline to 0.6100 should be expected. This count remains slightly preferred.
If, however a clear break above 0.7710 is seen, then the alternate count calling for a detour to 0.8138 before lower to 0.6100 will take the place as the preferred count.
No matter, whether important resistance at 0.7710 is able to cap the upside or not, the final outcome will be the same. It's just a question, whether we will move directly lower to 0.6100 or not.
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