The AUD/USD pair initially tried to rally during the course of the week but as you can see struggled. With this, we feel that the market will continue to bounce around the 0.70 level, an area that the market has been very attracted to lately. With this, we feel that the market is going to be very choppy, and probably just simply go back and forth in general. We have no interest in trading this market at the moment, simply because it looks like we may bounce. However, that bounce should simply be a nice selling opportunity from higher levels.
