The AUD/USD pair initially tried to rally during the course of the day on Thursday, but then fell significantly. We broke down below the recent support at the 0.7150 level, so at this point in time we feel that the market will continue to go lower as the red candle is fairly long. We feel that the market should then reach towards the 0.70 level below, which has been massively supportive. We are sellers of short-term rallies, and feel that this market should continue to drop in value going forward as the US dollar has started to strengthen yet again.
