The AUD/USD pair went back and forth during the course of the day on Tuesday, crashing into the 0.75 level, and then shooting towards the 0.7650 handle. After the interest-rate announcement and statement, it appears that the Australian dollar is going to continue to show strength, especially considering the gold markets are also pulling the Aussie higher. Ultimately, this is a market that will continue to find buyers on pullbacks, as we have quite a bit of buying pressure underneath it and we should then continue to rise in value over the longer term.
