The Australian dollar initially bounced against the US dollar during the day on Tuesday, but gave back most the gains in order to form a bit of a shooting star. This is obviously a very negative sign, and therefore think we are simply trying to build up enough momentum to break down. I am a seller rallies, and have no interest in going long at this point in time as there is going to be a considerable amount of uncertainty out there, something that doesn’t do much for the value of the Australian dollar going forward.
