The AUD/USD pair rose during the session after gapping lower on Monday, but remains below the 0.90 handle. It is because of this that we are actually looking for some type of resistant candle in order to start selling. With that, we are bearish of this market in the short-term, as well as the long-term. With the present instability in the financial markets around the world, it would not surprise us at all to see the Australian dollar selloff. The one thing that probably helped the Aussie during the session was the fact that gold got a bit of a “safe haven bid.”
