The Austrian dollar rose on Friday, testing the 0.77 level. It looks as if we are going to try to break out to the upside given enough time, so I am fairly confident on buying dips. Pay attention to gold markets, they of course can have quite an influence on the Aussie as well, and given enough time I think that’s exactly was going to happen, were going to see strength in the gold markets which will be followed by the Australian dollar. I still believe that the longer-term target at this point is the 0.80 handle.
Written by FX Empire