The AUD/USD pair shot higher during the session on Wednesday, breaking back above the 0.88 level. The Australian dollar has been beat up rather significantly, so this bounce of course would have been expected at one point or another. We still believe that this market is going to go lower though, as the commodity markets still appear very lopsided in demand. With that, we did see an area that we thought would be resistive push the market back down during the end of the session on Wednesday, so selling is still the way we want to go, although with a focus on short-term charts.
