The AUD/USD pair broke higher during the course of the day on Monday, clearing the 0.77 level. By doing so, the market looks as if it is trying to bounce from the 0.76 handle. We don’t have an interest in buying this market yet though, as although the candle has been rather impulsive, we need to see a little bit of follow-through before we consider buying. At this point in time, it’s probably best to leave this pair alone as it appears to be very volatile all of the sudden. We believe that the 0.80 level will continue to be a bit of a ceiling on this pair.
