The AUD/USD pair broke down a little bit at the beginning of the session on Monday, and then turned back around to close near the 0.81 handle. With that being the case, looks as if the market is ready to sell off yet again, but we need to form enough resistance just above in order to actually do so. We are willing to wait and be very patient in order to find that resistive candle to start selling. We recognize that below at the 0.80 handle, there is a significant amount of support and could be a long-term turnabout waiting to happen.
