$AUDUSD has been bearish since cracking 0.81 in September. Price action on the daily chart suggests another low. AUD/USD Daily Chart(click to enlarge)Bearish Swing vs. Bullish Trend:- The daily chart shows that price action has been bearish since September, - Looking back to 2016 however, we can see that price is essentially sideways, with a slight bullish trend in the second half of 2017.- The current dip challenges this bullish outlook.Negative Reversal:- The RSI is creating a higher high, while the corresponding price high is lower than the previous .This combination is a "negative reversal" signal, which suggests another swing down in the current bear run.- If price does make a new recent low, it will probably face support around 0.75.- Here, there is a rising trend line, and the RSI will likely be around 30, which would reflect oversold condition.Upside:- A conservative bullish outlook would be 0.7750.- A more aggressive target would be 0.81.- A break above 0.81 would then open up the next pivot around 0.8650. Downside:- A break below 0.75 could mean downside to 0.7350 and 0.7150-0.7175.