The AUD/USD pair fell during the course of the session on Thursday, as we continue to see sideways consolidation overall. With that being the case, we recognize that the 0.77 level below is massively supportive. If we can get below there, we would be sellers of the Australian dollar as it should then head to the 0.76 handle. We have no interest in buying, as we see so much in the way resistance all the way to the 0.80 handle. Ultimately, we think resistive candles offer value in the US dollar, and therefore we would sell them.
