In connection with the DXY reaching and trading near longer term supply levels around 96.00, and dollar rallying heavily leading up to next weeks FOMC Fed meeting this could be a Buy the rumor sell the news scenario and the pair could see some reaction giving the AUD a rally to enter back short near the .80 lvl 1 target if we see signs of strength look for stops above .83 to be run.
All In the context of adding short positions longer term if we see failure. Heading lower.77 cents imo would be the proverbial line in the sand if we are to see a rally or not. If we break .77 look for prices as low as .70. currently trading at long term support .62 fib lvl from 10/2008 lows to 2011 highs which is a good lvl to consider short term long even more important Currencies like to find equilibrium, we are trading exactly at the .50 retrace fib drawn from 2001 lows. Basically we are at an important lvl here around .77-80cents
Sell Rallies........ Don't chase price