The AUDUSD pair rose during the course of the day on Thursday, as we continue to try to grind higher.

The 0.80 level above is the target for the longer term as far as we can tell, and we believe the pullbacks will be buying opportunities again and again on short-term charts.

The (GLD, quote) gold markets of course have an effect on the Australian dollar, so they continue to show strength over the longer term, it is very likely that we will break out to the upside.

We have no interest in selling, we believe that the 0.75 level against a massive amount of support.

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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