The AUD/USD continued to rally during the Tuesday session, carving into the 1.0350 area. We did breakout, but this does show that there is underlying strength for the Australian dollar. Looking forward, we think that the market will be a “buy on the pullbacks” type of marketplace. This is exactly what we intend on doing, and certainly have no interest in selling it. In fact, we believe that we are simply returning to the consolidation area the tween 1.02 and the 1.06 levels.
Written by FX Empire