•AUD/USD is currently trading around 0.7969 and is consolidating between 0.7993 resistance level and ascending trend line [connecting August 15 low and August 31 low].
•AUD/USD failed to take out resistance at 0.7993 after the RBA minutes stressed the need to balance the risk of high household debt and low CPI.
•The gains in the AUD/USD are capped by expectations that the Fed would hike rates in December.
•Immediate support is around 0.7940 [where 200 SMA & ascending trend line merges] and any break below will drag the pair down to 0.7868.
•On the upside a break above the 0.7993 will take the pair to next level around 0.8040 - 0.8050.
We expect further down side if the pair able to take the support around 0.7940.