The AUD/USD pair did almost nothing during the session on Wednesday, as we continue to hang about the 0.81 level. That being the case, if we can rally from here, we think that this market can bring in sellers again and again, as each rally should be looked at as” value” in the US dollar. The gold markets are certainly looking soft as well, so at this point in time it’s difficult to imagine the Australian dollar rising for any real length of time. Ultimately, we feel that this market heads down to the 0.80 handle.
