The AUD/USD pair initially tried to rally during the session on Tuesday, but as you can see ended up falling in the end. With that being the case, the market looks as if it isn’t ready to do much beyond bounce around in this general vicinity. However, if we break down below the 0.84 level, we feel that the Australian dollar then goes to the 0.80 level over the longer term, and that is our target. Rallies at this point in time are treated with suspicion, and therefore we are looking to fade them as they appear.
