The AUD/USD pair shot straight up during the session on Monday, closing the gap down that we saw at the open. In fact, we managed to go above the gap, and close above the 1.04 level. However, there is far too much in the way of noise above for us to be overly excited about going long at this point. Also, you have to keep in mind that the Monday candle was too strong for the short against. In other words, we are content to stay out of this market at the moment as it seems to be far too choppy to our liking.
Written by FX Empire