The AUD/USD pair fell during the session on Friday, heading back towards the 0.8650 level. That area offered support last time, and if we can break below there we feel that this market will then head to the 0.85 handle. Gold markets aren’t helping much, and as a result we feel that it’s only a matter of time before the Australian dollar continues to fall, probably heading down even below the aforementioned 0.85 handle. We feel that longer-term, this pair could very easily head down to the 0.80 level, but that of course obviously will take quite a bit of time.
