AUD/USD Daily Analysis – Monday, Nov. 6

AUD/USD pulled back to the 0.7640 area after touching 0.7718 resistance, indicating that the pair remains in the downtrend from 0.8124 (Sep 8 high). A breakdown below 0.7624 support could signal resumption of the downtrend.

The next target would be at the 0.7500 area. Near term resistance is at 0.7670. Only a break above this level could trigger another rise to test 0.7718 resistance.

AUDUSD 4-hour chart

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