The AUD/USD pair initially fell during the session on Monday, but turned back around and shot much higher. However, there is still much in the way of resistance, extending all the way to at least the 0.80 handle. Because of this, we are not willing to buy this market, and quite frankly are waiting to see if we can get some type of sell signal in order to continue the longer-term trend to the downside and aim for the 0.76 level next. Ultimately, we don’t necessarily have any interest in buying the Aussie.
