The AUD/USD pair fell during the course of the day on Monday, but not significantly so. It appears that the market is essentially comfortable in this general vicinity, at the 0.9250 region. We believe that the market is probably one that still is a bit sideways at the moment, so we are not interested in trading the Australian dollar at the moment. If we break above the top of the hammer from Friday though, we believe that the market will head to the 0.9350 region in the short-term. The 0.92 level below is probably massive support.
