The AUD/USD pair fell during the course of the day on Thursday, slicing back below the 0.88 handle, showing just how hard it is for the Australian dollar to pick up any serious traction to the upside. With that, we feel that this market probably continues to drift lower but in a fairly choppy manner. We don’t really have too many concerns one way or the other from the longer-term perspective about selling, but do recognize in the near term it could be fairly volatile. Because of this, we will be very cautious but recognize that this market is most certainly bearish.
