The AUD/USD pair broke higher during the course of the day on Thursday, breaking out above a resistance barrier at the 0.75 level. Having said that, we have cleared the top of the consolidation area that we have been in for some time, and more and poorly broke above the 61.8% Fibonacci retracement level. With this, I feel that the Australian dollar is ready to go higher, and we will more than likely reach to the upside as the previous resistance should now be supportive and it looks like the Australian dollar is in fact showing quite a bit of strength.
