The AUD/USD pair went back and forth during the day on Monday, as we continue to bounce around the 0.74 level. With that, we believe that the market should continue to be very tight, but as long as we stay below the 0.75 level, we can only sell this market for short-term trades. If we break down below the 0.74 level on a daily close, at that point in time we would anticipate this market heading down to the 0.70 handle which is the next large, round, psychologically significant number, which tends to attract the market.
