The AUD/USD pair fell during the course of the session on Friday, but most importantly broke down below the 0.80 handle. That being the case, it appears the market is ready to continue falling, and perhaps head as low as the 0.75 level over the course of the next several weeks. Rallies at this point time should be selling opportunities, so we are looking for short-term charts that show signs of weakness that we can continue to sell. We believe that the Australian dollar is going to continue to weaken and are not interested in buying until we get above the 0.82 level, something that does not look very likely anytime soon.
