The AUD/USD pair went back and forth during the session on Thursday as we continue to hang about the 0.78 handle. Ultimately, we believe that this pair isn’t going to go above the 0.80 handle, so having said that we are sellers of resistive candles between here and there, as well as a seller of a break down below the bottom of the range for the session. Ultimately the market looks as if it’s heading back to the 0.76 handle given enough time, and will continue to sell again and again every time we rally and fail.
