The AUD/USD pair initially tried to rally during the session on Monday, but turned back around to test the 0.76 level. Ultimately, if we can break down below there, the market will then look for the 0.75 handle where we would anticipate seeing quite a bit of support. After all, it is a large, round, psychologically significant number, and of course will attract a lot of attention. We don’t have any interest in buying the Australian dollar at the moment, it just has simply been far too soft recently to be bothered.
