The AUD/USD pair fell slightly during the day on Monday, but essentially did nothing. Keep in mind that we have an interest rate decision coming out of the Reserve Bank of Australia today, and that of course will have quite a bit of volatility in this market. It’s not that we are anticipating any type of change, but there will of course be a monetary policy statement that accompanies the announcement, and that could cause quite a bit of volatility going forward. We still believe that the 0.75 level is the beginning of a massive “floor” of support in this market.
