The AUDUSD pair fell a bit during the course of the day on Tuesday as traders returned from the Independence Day holiday in America.

The 0.76 level appears to be offering quite a bit of resistance, so pullback from here isn’t overly surprising.

However, I also see quite a bit of support near the 0.7350 level. With that, I think that sooner or later the buyers return and push this market back to the upside again.

With this, expect choppy consolidating type of trading in this market until we get some type of longer-term signal.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account.  The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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