The AUD/USD pair rallied slightly during the course of the day on Friday, and as a result we believe that the volatility continues. Quite frankly though, we are very bearish on this pair, and we are waiting to see whether or not we get a resistant candle above in order to start selling. The 0.75 level above of course is very resistive, and with that we feel that the market should continue to find sellers every time we bounce. We have no interest in going long at this point in time as commodity markets simply do not warrant a higher Australian dollar.
