At present I am unbiased as far as direction on AUDUSD. However, there are two important levels to watch to get involved in a trade on AUDUSD. The resistance at 0.8065 would be good level to short again with take profit target around 0.7785 area. Moreover, should the price continues to decline and hit support level at 0.7785 then most likely price would retest resistance at 0.8065.

Both trades could provide excellent risk to reward ratio, if trades are taken based on price action on lower time frames such as hourly charts with tight stop loss.
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