The Australian dollar went back and forth during the day as the 0.75 level continues to attract traders. However, gold markets are broken out so a break above the top of the candle for the session could be a buying uptrend. That’s not to say that is going to be easy, but it does certainly look like we could get a bit of a bounce. It will be volatile, but if gold goes higher, eventually the Australian dollar tends to as well. There is a massive amount of support just below, so I’m not interested in selling.
Written by FX Empire