The AUD/USD pair broke out to the upside during the session on Wednesday, clearing the 0.93 handle. That being the case, we feel that this market will continue to go higher, and head towards the next major resistance area, which we see as the 0.95 handle. That area we think is going to be very resistive, so we do not expect this market to move much above there, unless of course the Federal Reserve skips on tapering off of quantitative easing. In that particular circumstance, you can expect the US dollar to be absolutely pummeled.
Written by FX Empire