The AUD/USD pair try to rally during the session on Monday, finding the 0.88 level far too resistive though. The shooting started formed for the session of course suggests that the Australian dollar will continue to weaken over the longer term. We believe that, and think that a break of the bottom probably since this market looking for 0.87, and then below there to the 0.85 handle. We have no scenario in which we start buying the Aussie dollar at the moment, so even if we go higher, we would be looking for some type of resistant candle to start selling.
