• AUD/USD slipped below 0.6600 level on Monday as dollar gained on bets of a Donald Trump victory and of a more restrained Federal Reserve in delivering upcoming rate cuts.
• AUD/USD slipped 0.1% against U.S. dollar on Monday to $0.6596, the lowest since mid-August.
• Looking ahead, Australia's key release is the Q3 CPI data on Wednesday, which will indicate if inflation pressures are finally easing. Additionally, retail sales, housing finance, and PPI data will also be published.
•Technical signals are strongly bearish as RSI is at 41, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 0.6614 (Daily high), any close above will push the pair towards 0.6635 (38.2%fib).
• Support is seen at 0.6582(23.6%fib) and break below could take the pair towards 0.6559 (Lower BB).
Recommendation: Good to sell around 0.6600, with stop loss of 0.6660 and target price of 0.6530
