The AUD/USD pair went back and forth during the course of the day on Thursday, as we continue to bounce along just below the 0.84 handle. We believe that this market will eventually go lower, probably heading to the all-important 0.80 handle. In the meantime though, rallies will offer selling opportunities, and that’s exactly what we will use them for. We will look at them as value in the US dollar and continue to sell. We have no interest in buying this market, and believe that it is only a matter of time before the breakdown continues.
