Despite some intra-week volatility, AUD/USD's fall from 1.0612 extended to as low as 1.0375 last week. There is no change in the bearish view. That is, whole rebound form 0.9588 is finished at 1.0612 already. Fall from there is expected to continue to 1.0176 and below. In any case, we'll stay bearish as long as 1.0544 resistance holds and expect deeper decline ahead.