The AUD/USD pair continues to hang about the 0.80 handle, as the market suggests that the Australian dollar will more than likely continue to soften. With that, we feel that the market can be sold on resistive candles, as there is quite a bit of noise between here and the 0.83 level. On top of that, the gold markets going higher overall hasn’t even helped the Australian dollar, so therefore it’s very difficult to have any faith in the Aussie at this point in time. With that, we are looking for rallies that show signs of weakness in order to sell.
