The AUD/USD dropped slightly off of the 0.71 level during the session on Wednesday. However, we are still very much below the previous support level at the 0.72 handle, so we look at resistive candles above as nice selling opportunities for short-term traders. We have no interest whatsoever in trying to hang onto a trade for any real length of time, and as a result we feel that more than likely will be a short-term only type of market. The 0.70 level below should continue to be a bit of a floor, which is something that we have to keep in mind when we trade back and forth.
