The AUD/USD pair tried to break out to the upside on Friday, but then turned back around at roughly 0.79 to form a bit of a shooting star. That being the case it looks like we’re ready to drift lower from here and perhaps head back down to the 0.76 handle where we had found a bit of a bottom previously. We also believe that the market may then head down to the 0.75 handle, an area that is a much larger round number. Is not until we break well above the 0.80 handle that we would even consider this market changing.
