The AUD/USD pair fell during the course of the day on Friday, showing the 0.75 level as being too resistive. Because of this, we feel that the market should continue to go lower, and every time we get a short-term rally we should be sellers. We believe that even if we break above the 0.75 level, there is a significant amount of resistance all the way to at least the 0.76 level. We think that the Australian dollar will continue to be soft overall, and as a result we are “sell only” at this moment.
