The AUD/USD pair did nothing during the session on Monday as we continue to hover above the 0.9250 handle. The Australian dollar has been relatively flat for several sessions now, and there is nothing on this chart that suggests that it’s going to change anytime soon. We do recognize the 0.92 level is supportive, so it’s not until we get below there that we could even make an argument for selling. At the end of the day, we feel that this is simple support testing by the bullish traders out there, and as a result we fully expect see the Australian dollar trading to the 0.95 level fairly soon.
