The AUD/USD pair went back and forth during the course of the session on Monday, as we continue to hang about the 0.7050 level. Ultimately, the market has to deal with the 0.70 level below as support. If we can get below there, the market should then reach down to the 0.68 handle. Any type of rally at this point in time will have to be looked at with suspicion, and exhaustive candle would be without a doubt a selling opportunity. At this point in time, we’ve no interest in buying the Australian dollar less of course we get some type of longer-term bullish signal.
