The AUD/USD pair initially fell during the day on Wednesday, but found buyers near the 0.7125 level. By doing so, we turned around to form a hammer and it looks as if we are trying to build up enough momentum to finally break above the previous uptrend line that has been offering quite a bit of resistance lately. With this, expect quite a bit of volatility, but quite frankly we would rather the market make its move first, and then we are willing to join in. Until then, we are on the sidelines.
