The Australian dollar initially fell during the course of the session on Monday, testing the 0.75 level. However, this large, round, psychologically significant number offers a buying opportunity on a break above the top the hammer, and should send the market looking for the 0.77 handle again. A break down below the 0.74 would be very negative, and at that point in time I feel that the sellers would jump back in. However, I have to say that the bullish pressure certainly looks as if it is starting to take over the market.
