The AUD/USD pair fell during the course of the day on Friday, reaching below the 0.72 handle. We believe it’s only a matter of time before this market pulls back anyways, as the weekly candle is a shooting star. The market should then reach down towards the 0.70 level, which has been rather supportive in the past. We think that it could be volatile on the way back down to that level, but it is only a matter of time and therefore we are bearish and willing to sell breakdowns and of course rallies that show signs of exhaustion.
