The AUD/USD pair fell hard on Monday as the world sold of risk in the various markets. The gold market fell, and as that can sometimes support the Aussie as well. The pair looks set to continue the fall back towards the 1.01 area, and perhaps even down to the parity level. The pair cannot be bought at this point, and we are willing to sell on rallies now as the pair looks weak. However, in order to get short for a longer time period, parity needs to be closed below. The daily candle is closing at the very lows, and this is a very, very weak sign to say the least. We sell rallies, and cannot go long until we break above the recent high at 1.08 or so.
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