The AUD/USD pair broke higher during the course of the day on Tuesday, testing the 0.77 handle. However, we gave back most the gains in order to form a bit of a shooting star, and as a result we feel that this market is in fact going to break down given enough time. Once we do, we feel the market will test the 0.75 handle, and the perhaps even go lower than that. Rallies continue to be selling opportunities as far as we can see, so therefore we have no interest in buying.
