The AUD/USD pair rose during the course of the session on Tuesday, but still remains within the consolidation area that it has been in for some time. Because of this, we feel that this market is still one that cannot be bought and recognize that there is resistance at the 0.80 level. In fact, we think that any resistive candle between here and there is more than likely going to be a selling opportunity going forward. We have no interest in buying the Australian dollar until we break above the 0.83 level, something that isn’t going to happen anytime soon.
