The AUD/USD pair went back and forth during the session on Tuesday, struggling to gain any significant momentum to the upside. There is a significant amount of resistance just above at the 0.88 handle, an area that has been like a magnet for price for some time. We believe that breaking down in this general area is probably will we will see next as the market should then head to the 0.85 handle. Nonetheless, we are not comfortable buying the Australian dollar until we get above the 0.90 level, something that isn’t going to happen anytime soon.
