The AUD/USD pair initially fell during the day on Tuesday but found enough support at the 61.8% Fibonacci retracement level to turn around and form a very bullish candle. Because of this, looks as if the market is going to try to reach towards the .7750 level above. I believe in buying the Australian dollar, especially the gold markets break out which they’d look like they’re trying to do. Once they break above the $1262 level, that should send a flood of money into the Aussie as well. I have no interest in selling.
Written by FX Empire