The AUDUSD pair broke higher during the course of the session on Thursday, but we still remain well below the previous uptrend line that we have been using as a resistance barrier.

It’s not until we get above that line, which is essentially the highs from Tuesday, but that we would start buying this pair. In the meantime, an exhaustive candle could be a nice selling opportunity as the market continues to be very volatile and choppy.

Regardless, this is a pair that you should be watching even if you are not involved in it right now.

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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