During the session today, we will be hearing from the Reserve Bank of Australia. They are expected to do very little as far as the rates are concerned, but the statement will of course be important. Any rally at this point in time though, we look at as a selling opportunity once things calmed down. The 0.70 level should be resistance, and we believe that it’s only a matter of time before this market drops down to the 0.70 level. Gold markets certainly are not helping the Australian dollar, so therefore we expect this market to continue to go lower.
