The AUD/USD pair did nothing during the session on Monday, as we found support at the 0.78 handle. With that being the case, the market looks like it could bounce a little bit from here, heading towards the 0.80 level. But we also believe that the oil market been very quiet will of course keep this market very quiet as well. With this, we need to see some type of impulsive candle in order to start getting involved in this market yet again. We believe that exercising caution and standing on the sidelines will be the best way to approach this market today.
