The AUD/USD pair broke higher during the session on Tuesday, finally breaking out above the 0.93 handle. Because of this, it appears that the market is ready to head back to the 0.95 handle, which of course is the next major resistance area based upon the large, round, psychologically significant barrier. We believe now that the 0.92 level will offer support going forward, and that it is the “floor” of this market, allowing for us to “buy only” at this moment in time. Selling is an even a thought until we get below the 0.92 handle.
