The AUD/USD pair initially fell on Tuesday, but turned around to rally and form a hammer. If we can break above the 0.7750 level, that would be a very strong sign and it should send this market much higher. I believe that given enough time, the Australian dollar will continue to climb overall, so pullback should be thought of as buying opportunities. Ultimately, I believe that this market will try to get to the 0.80 level above. Pay attention to gold, it could be the catalyst to push us much higher in this market.
Written by FX Empire