The AUD/USD pair chopped around during the day on Monday, as we continue to see quite a bit of volatility. The market should then try to reach towards the 0.7750 level above, so I feel that it’s only a matter of time before the markets will break out. If we can get above there, it will more than likely coincide with the gold markets doing the same, as we are starting to see significant strength. Pullbacks should continue to be buying opportunities as there seems to be a significant amount of support underneath.
Written by FX Empire