The AUD/USD pair fell during the session on Monday, but remains above the 0.90 handle. We do see a significant amount of support all the way down to the 0.9 handle, so any type of supportive candle between here and there would have us buying this market as the Australian dollar should continue to pick up momentum at that point. We did in fact breakout, but we have to admit that the breakout is of the most convincing thing. Quite frankly, we feel much more comfortable owning the New Zealand dollar on a break out than the Australian dollar.
