The AUDUSD pair went back and forth during the session on Monday, essentially settling nothing.

Because of this, we really don’t have much of a trade set up in this marketplace right now, but we do recognize of the 0.9250 level is supportive.

We recognize that there is a massive cluster down there, and therefore would like to see this market.

Just a little bit lower before forming some type a supportive candle in order to go long.

With that, we are bullish of this market but recognize that we need the right candle in order to risk any trading capital.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account.  The ETF looks to track the price of the euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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