The AUD/USD pair initially fell during the course of the session on Monday, but found enough support to turn things back around and go higher. With this, we ended up forming a hammer for the session, and it now looks as if the Aussie will try to head back towards the 0.8080. On the other and, if we can break down below the 0.78 level, this market should continue to go much lower. With that, we believe that the Aussie still struggles, but we have an interest rate decision today which of course could move the market in general.
