The AUD/USD pair broke higher during the course of the day on Monday, as we continue to press the 0.74 handle. However, we are getting a bit overextended at this point in time so unless you are already long of the Australian dollar, it’s going to be almost impossible to start buying here. Quite frankly, we think that a pullback will come, but at this point in time we do not have any sign of that. We believe that the market moving above the 0.75 level would be a trend change going forward.
