The AUDUSD pair rallied initially during the course of the session on Tuesday, as we continue to see bullish pressure jump into the market.

Given enough time, the market should perhaps even break higher but we also recognize that the gold (GLD, quote) markets might have something to say as well, as they tend to have a large influence on what happens with the Australian dollar.

With this, we are bullish but also recognize that you may have to deal with pullbacks from time to time. We think of those as value in this pair though.

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.

Content curiosity of FOREXCycle