The AUD/USD pair rallied slightly during the day on Monday, but we await the Reserve Bank of Australia and its interest-rate announcement first thing in the morning. With this, it’s likely to see a lot of volatility in the short-term. There are quite a few areas of resistance above, so this point in time I still believe that we probably grind lower, but do recognize that the move will be very short-term based, as we continue to try to find some type of overall direction for the longer term in the Australian dollar. At this point, I’m not overly interested in trading.
