The AUD/USD pair witnessed some heavy selling during the early European session and dropped to fresh multi-week lows, around the 0.7675 region in the last hour. The downfall marked the third consecutive day of a negative move and was exclusively sponsored by a broad-based US dollar strength.
From a technical perspective, bearish acceptance below the 0.7700 round-figure mark might have already set the stage for an extension of the recent downward trajectory. The AUD/USD pair seems all set to extend the recent sharp rejection slide from the key 0.8000 psychological mark, or three-year tops.