The AUD/USD pair bounced off the 0.7650 level during the session on Tuesday, as we continue to consolidate overall. The market should then reach towards the 0.7740 level, and eventually I think we break above the 0.7750 level. A break above there should send the market much higher, and continue the longer-term “buy-and-hold” move. Pullbacks continue to offer buying opportunities and I have no interest whatsoever in selling. There is a strong correlation between the gold and the Australian dollar markets, and gold looks very healthy. Because of this, I believe that both will push each other higher.
Written by FX Empire