Yesterday we said that we need to see the AUD/USD break above the red trend line – a line that formed the descending triangle in order to buy this pair. That is exactly what is has done on Wednesday. Because of this, we are looking for pullbacks to buy the AUD/USD pair, and it looks as if it is going to find a bid again. With the strength in the gold markets, and the correlation between the Aussie and gold – this was no surprise.
Written by ForexMansion.com