The AUD/USD pair fell during the course of the session on Friday, showing significant weakness still. During the same session, the gold markets fell apart and as a result it should continue to push the value of the Australian dollar lower. We believe that a break below the most recent low from a couple of days ago should send this market looking for the 0.70 handle. We think rallies also offer selling opportunities and that the 0.75 level above is a significant “ceiling” in this market and should keep sellers entering again and again.
