The AUD/USD pair broke higher during the course of the session on Thursday, but found quite a bit of resistance at the 0.78 region. With that, we fell a bit, and it appears that the sellers are still in control. We look at rallies as selling opportunities, as the market should continue to be bearish overall. Ultimately, we feel that the Australian dollar will fall we down to the 0.75 handle, but it may take a while to get down there. The 0.80 level above continues to be the ceiling in this market.
