The AUD/USD pair initially fell during the course of the day on Tuesday, breaking well below the 0.70 level to test for support. We found quite a bit there, and ended up turning back around to form a hammer. That’s obviously very bullish sign, but at the end of the day we recognize that there is still quite a bit of noise above as well. With that, we are simply sitting on the sidelines at this point in time, waiting for a longer-term signal to start following again. We will keep you informed.
