The AUD/USD pair fell during the course of the day on Monday, rolling over from a shooting star previously. With this, the market should continue to drift lower, perhaps heading down to the 0.70 level, and then perhaps even lower than that. We have no interest whatsoever in buying this market as the Australian dollar course is beholden to the commodity markets. With that, we believe that this market will continue to be a sellers’ market, and we have no interest whatsoever in buying at this point in time. We believe that short-term rallies will offer selling opportunities as well.
Â
