The AUD/USD has continued to sell off with the rest of the markets as we had Berlusconi announcing his resignation. For the month of November the trend is downward and we are slightly below the 38.2% Fib retracement level. The second level that will come in as a resistance point is the 50 MVA, which we may easily break today. At 7:30pm EST we have the Employment Change and Unemployment Rate, if these figures come in above expectations it will most likely be short lived as the macro trend is still downward. If the US continues to sell off we should seek the next resistance point at the 50% Fib level.
