The AUDUSD pair fell during the course of the session on Wednesday, breaking to a fresh, new low.

That being the case, the market looks as if it is ready to go much lower, as the 0.75 level above continues to be the “ceiling” in this market.

The Australian dollar course is going to suffer as most commodities look a little bit soft, so therefore we have no interest in buying this pair.

In fact, every time this pair rallies on the short-term chart, we are sellers as we believe the market will then head down to the 0.70 level.

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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