The AUDUSD pair fell a bit during the course of the session on Monday, as we continue to see weakness in the Australian dollar overall.

Keep in mind that the US dollar is without a doubt the strongest currency at the moment, and we believe that will be the case going forward.

On top of that, gold markets are doing no favors for the Aussie dollar as although they trying to rally during the course of the day on Monday, they got absolutely pummeled at the $1100 level.

With this, we are sellers on a break below the bottom of the Monday range.

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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