The AUD/USD pair broke higher during the course of the session on Thursday, testing the 0.79 handle. We did up falling from there though, and forming a relatively significant bearish candle. With that, the market looks as if it has support at the 0.77 handle, so we need to break down below there in order to start selling again. Ultimately, we believe that this market should go to the 0.76 handle which was the recent well. Longer-term, we expect to see the 0.75 level being tested. We believe that the 0.80 level above is massively resistive.
