The AUD/USD pair broke higher during the course of the session on Monday, but remained fairly stagnant overall. With that, the market looks as if there is a significant amount of resistance at the 0.80 level above, and with that we are simply waiting on the sidelines for some type of resistive candle in order to start selling the Australian dollar yet again. We have no interest in buying, because we see more than enough selling pressure above to keep us away. If we break down below the 0.7850 level, we feel that the market should continue to go much lower.
