The AUD/USD has fallen yet again on Monday as the world's market react to the debt issues in the United States and Europe. The pair is falling hard, and has even managed to fall into the 1.01-1.02 support zone. If this area doesn't hold up as support, we are more than likely going to fall to 0.95 or so. After that - much, much farther.
AUD/CAD is a battle between two commodity currencies. The oil markets are falling, yet the CAD is still gaining against the Aussie. The parity level is within our sites, and the area should end up being some kind of support. If not - this pair falls hard.
The Tuesday session could be crucial in determining the future direction for the Aussie. We don't recommend trading the AUD until AFTER this session completes as we can look at what has happened, and perhaps get a clue on the next several months in Oz.
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