The AUD/USD pair rose during the session on Wednesday, bouncing off of the significant support area in the region of 0.93. As you can see on the chart, we actually have the line drawn that the 0.9250 level, simply because we feel that the support runs all the way down to their based upon the gap in early September. That being said, the gold markets did get a little bit of a bruising during the session, so we need to pay attention to what happens here in this currency market as well. Gold and the Australian dollar tend to move in tandem, and the divergence is an interesting turn of events. Because of this, we are going to stay away from the Aussie dollar for the moment.
Written by FX Empire