The AUD/USD pair broke higher during the course of the session on Friday, as we certainly can towards the 0.7250 level. That being the case, the market should continue to go higher but we recognize that there is massive amounts of resistance at higher levels, especially near the 0.74 level. We are looking for resistive candles in order to start selling again, and when we get that we most certainly will. Gold markets certainly do not do any favors for the Australian dollar, and as a result it’s only a matter time before we fall back towards the 0.70 level.
