The AUDUSD pair went back and forth during the course of the day on Thursday, as we continue to bounce along just below the 0.84 handle.

We believe that this market will eventually go lower, probably heading to the all-important 0.80 handle. In the meantime though, rallies will offer selling opportunities, and that’s exactly what we will use them for.

We will look at them as value in the US dollar and continue to sell. We have no interest in buying this market, and believe that it is only a matter of time before the breakdown continues.

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 Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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