The AUD/USD pair initially tried to rally during the course of the session on Friday, and pulled back from the 0.70 level. Ultimately, the market should continue to go lower though, and as a result we are sellers on a break below the bottom of the range for the Friday session. We believe that the market should then head to the 0.68 handle, and then perhaps as low as the 0.65 handle given enough time. We have no interest in buying, and believe that there is a massive resistance barrier above the 0.70 level leading all the way to the 0.72 handle.
