The AUD/USD pair broke higher during the course of the session on Monday, but pullback a little bit. However, we believe that ultimately this market will go higher as the gold markets look like they are trying to find some type of support in that general area as we continue to see a lot of concerns about the Federal Reserve stepping away from interest-rate hikes. This generally is good for gold, and that tends to have a bit of a “knock on effect” in the Australian dollar. There seems to be massive support all the way down to the 0.74 level, so we have no interest in selling.
