The AUD/USD pair fell hard during the session on Tuesday, breaking back below the 0.90 handle. We had suggested that the breakout above that level might have been a bit of a “false breakout”, so this move really isn’t that much of a surprise. Now that we have closed below the 0.90 handle, we are prepared to start selling Australian dollar yet again. This market has been very weak, and therefore a continuation of the selling really isn’t that big of a stretch in our imagination. We are sellers, not buyers of the Australian dollar.
Written by FX Empire