The AUDUSD pair continues to show significant weakness as we gapped lower at the open.

With that being the case, the session on Monday certainly looks like a continuation of the downtrend in this marketplace.

We believe that this market will eventually hit the 0.85 level, and that any bounce at this point in time should indeed be a selling opportunity as the Australian dollar continues to suffer.

We believe that the US dollar continues to be the favored currency by Forex traders around the world, and with that we believe that the Aussie will continue to be sold.

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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