The AUD/USD pair rose during the course of the day on Wednesday, bouncing slightly and breaking above the 0.82 level at one point. However, we think that any rally at this point in time should be a selling opportunity for the Australian dollar, as it is a currency that is most certainly bearish of this moment. It’s a bit oversold though, so a rally in our opinion is just simply value in the US dollar waiting to be taken advantage of. We have no interest in buying this market, as the trend is most certainly to the downside.
