The AUD/USD pair went back and forth on Tuesday, hovering around the 0.88 level. This is an area that has been very important for the Australian dollar, and as we have formed a neutral candle, we suspect that this is probably more of a bearish case that a bullish one. A break below the most recent low is more than a reason to start selling the Australian dollar as commodity markets continue to suffer in general. Pay attention to the gold markets, they certainly are doing the Australians no favors at the moment, and as a result we think this market will eventually break down but need to see the signal first.
