The AUD/USD pair fell during the course of the session on Wednesday, breaking below the 0.76 level at one point. This is a market that has plenty of support below though, especially at the 0.75 handle. With that being the case, the market will more than likely form some type of supportive candle that we can trade. If we break down below the 0.74 level, that would be very negative for us. In the meantime, we are simply waiting for some type of bounce in order to take advantage of the longer-term trend.
