The AUD/USD pair did very little during the session on Thursday, as we continue to grind sideways. Because of this, we feel that the market is essentially trying to build up enough momentum to break out, and that it will be very difficult to trade at this moment. Pullbacks should offer buying opportunities, but we would be much more comfortable buying this market on a break above the 0.95 level, an area that looks quite resistive. With that, we are on the sidelines but definitely waiting to see if the Australian dollar can break out to the upside.
