The AUD/USD pair initially tried to rally during the course of the day on Wednesday, but found far too much in the way of resistance above to continue the move. Although we finished with a positive candle, the truth of the matter is that the Australian dollar looks a little overdone. At this point in time though, it’s probably best to leave this market alone as there are a lot of moving pieces. The gold markets are rocketing to the upside, while the US dollar is struggling. However, this is not translating into a stronger Aussie, which is a bit out of the norm.
