The AUD/USD pair broke higher during the course of the session on Tuesday, but as you can see broke above the 0.78 level which of course is a small barrier. However, there is so much resistance above that we are still not willing to buy the Australian dollar, and believe that the 0.80 level above should be massively resistive. With that being the case, the market looks as if it should offer value in the US dollar coming soon, so we are looking for resistive candles in order to get short. We have no interest in buying this market until we clear the 0.83 level.
