AUD/USD Price Analysis: Bears looking for a run back to 0.7000

• AUD/USD is trading in overstretched conditions when looking to the longer-term charts. 
• AUD/USD needs to get below the daily support structure for bearish prospects back to test 0.7000.

In a top-down analysis, we can see that the price is entering a supply zone but holding way above prior weekly support structure. 

However, daily support is providing plenty of support, but there could be a carrot for the bears below a counter trendline if price can muster another close below it.

Monthly chart

Weekly chart

Daily chart

At first glance, the support looks solid, however, on a break of what would be a counter trendline, bears could be in with a chance to take out the support.