The AUD/USD pair went back and forth on Thursday, showing signs of confusion. I think there is more than enough support below at the 0.76 level to keep the market going higher, and eventually reaching towards the 0.7750 level. There is a significant amount of support underneath the 0.76 level, that extends all the way down to the 0.75 level. Ultimately, this is a market that will continue to be very choppy, but I believe that there is more of an upward bias in general. The gold markets of course will have an influence on this pair, as the positive correlation is strong.
Written by FX Empire