The AUD/USD pair broke out during the session on Tuesday, slamming through the 0.90 handle. However, we did not break the highs from early January, so even though it’s a strong sign, we haven’t technically broken out yet. It’s not until then that we start buying, but quite frankly we think that the Australian dollar is going to start picking up steam at this point in time. Expect a lot of volatility going forward, and watch the gold markets. The gold markets broke out during the session as well, so that of course both well for the Aussie.
