The AUDUSD pair has broken down below the recent low, and looks as if it’s ready to head down to the 0.85 handle.

That area should be massively supportive, as the market should continue to go lower from there.

We believe that ultimately if we can get below the 0.85 level, the market should then head to the 0.80 level.

Ultimately, we believe that rallies on short-term charts will continue to be selling opportunities as the US dollar is without a doubt the strongest currency in the Forex markets at the moment.

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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