The AUD/USD pair went back and forth during the day on Monday, eventually doing nothing. That being the case it looks as if the 0.70 level is still keeping the market down, but you also have to keep in mind that the Americans celebrated Labor Day during the session, and that of course kept the commodity markets quiet, which are quite often influential in how the Australian dollar trades. With this, we are looking for rallies in order to start selling again. Any sign of resistance or failure at the 0.70 level is reason enough for us to start going short.
