The AUD/USD pair initially tried to rally during the day on Monday, but as you can see turned back around and fell rather significantly. In fact, we tested the 0.77 level, and as a result it looks like we are ready to break down. Because of this, the market should then head to the 0.7550 level given enough time. It might be a bit choppy, but it does go with the overall downtrend. We have no interest in buying, and believe that the Australian dollar will continue to fall given enough time as the US dollar continues to reign supreme.
