The AUD/USD pair initially fell during the day on Monday, but found enough buyers to turn things back around and go much higher. However, there is a significant amount of resistance between current levels and the 0.80 handle, so we don’t really have any interest in going long. We can’t sell yet though, because quite frankly there isn’t much in the way of negativity to sell. With this, we are simply waiting for a resistive candle in order to start shorting, and are on the sidelines at the moment. We will continue to monitor the Aussie dollar.
