The morning release of the RBA meeting's Minutes, which reiterated the cautious optimism of Lowe's speech from earlier this month, weakened the AUD, which fell against the Dollar to its lowest level so far this week at 0.7832. The recovery from the Oct.6 low has been stopped just below the 0.7900 level and price fall back to the 38.2% retracement of September – October downtrend. AUD/USD is currently trading around 0.7844 and finds support at 0.7835. A break below this level will open further short position towards 0.7810/00.
Support: 0.7835, 0.7810/00 & 0.7770.
Resistance: 0.7850 & 0.7900/20.
Trading Recommendation: [Timeframe H1] Sell at 0.7850 with SL above 0.7880 & TP: 0.7810/00.