FX.co ★ Technical analysis of AUD/USD for November 08, 2016

The AUD/USD pair is at the major resistance level of 0.7727 (Fibonacci projection, horizontal resistance). from which we expect a big reversal to at least 0.7662.

The RSI (34) is reacting off a very strong resistance level, which has seen the price correspondingly drop from multiple times. TFA Sniper is showing early signs of bearish momentum on the M1, M5, and M15 time frames.

Sell below 0.7727. Stop loss at 0.7747. Take profit at 0.7662.