The AUD/USD pair fell during the course of the day on Monday, breaking below the 0.89 handle. We believe that this market will grind to the 0.88 level, but it might take a little bit of volatility in the meantime to get the market moving. Right now, it looks a bit too tight for us to be involved in, and certainly too tight to risk any significant amount of money. We will say that a move below the 0.88 level would have this market falling apart though. As far as buying is concerned, we need to get back above the 0.90 level.
