The AUD/USD pair rose on Thursday as the gold markets shot up as well. The Federal Reserve is expected to keep rates low for quite some time as there were a few different board members making comments to that effect during the session. The weakening of the Dollar will continue to push the higher yielding currencies like the Aussie higher as long as this it’s true.
With this in mind, we are buying the Aussie going forward, and would use a break of the Thursday high as a signal to go long. Also, we are a bit more comfortable with it as the 200 day EMA is just below the closing price again. Selling isn’t possible at this point.
Written by FX Empire