The AUD/USD pair rose during the session on Tuesday, breaking above the top of the shooting star on Monday, which of course is a very strong sign. However, we see quite a bit of noise all the way up to the 0.95 handle, and therefore we are bit hesitant of buying even though this is a fairly strong sign. Short-term traders may take a flyer on the idea of going to 0.95, but we feel that this market is far too choppy and noisy to be involved with at the moment, and therefore will simply pass on any trading opportunities.
Written by FX Empire