The AUD/USD pair broke higher during the session on Tuesday, closing well above the 0.90 handle. While this is a positive development in this market, it’s obvious that the 0.9050 level has been resistive previously, and therefore we aren’t as enthused as one may think. However, if we break the top of the session highs for Tuesday, we could very well go to the 0.92 handle. However, we do not expect this market to truly break free until we get above the 0.93 handle, something that will more than likely not happen until the Federal Reserve makes its decision on quantitative easing.
Written by FX Empire