The AUD/USD pair did very little during the session on Thursday, as it appears the market is ready to continue to fall from here given enough time. That being the case, we break below the bottom of the range for Thursday, we feel this market will head back down towards the 0.76 level where there could be quite a bit of support to be had. Ultimately, if we rally from here we believe that the 0.80 level offer significant resistance as well, and as a result we don’t really have a scenario in which we are interested in going long.
