FXStreet reports that  Credit Suisse discusses AUD/USD outlook.

“AUD/USD fell sharply on Monday to reject key resistance and our first core upside objective at the 38.2% retracement of the entire 2011/2020 fall at 0.7625/40. Although the fall was reversed by the close, this rejection has reinforced the potential for a phase of consolidation to help the market to unwind its previously overbought condition.” 

“Support stays at the 13-day exponential average and psychological barrier at 0.7529/00, which needs to hold on a closing basis to avoid a deeper setback. Assuming this is the case, the risk will stay seen higher post further sideways ranging and with a large ‘head and shoulders’ base still in place, a clear break of 0.7632/40 is looked for post this phase. Next resistance is at 0.7673/77 and then the April 2018 high at 0.7813.