The AUD/USD pair went back and forth during the session on Tuesday, testing the 0.76 level. However, this is a market that looks like it wants to break down, and given enough time we believe it will. Any rally at this point in time should be a nice selling opportunity, and as a result we will continue to be sellers every time this market bounces. If we break down below the 0.76 handle decisively, we feel that this market will then head to the 0.75 level and below as the Australian dollar continues to suffer.
