The AUDUSD pair fell during the course of the day on writing, but remains well within the consolidation area that we have been stuck in for some time.

With that, we don’t really have a trade at the moment, and quite frankly are on the sidelines when it comes to the Australian dollar in general.

That’s not true against some of the other crosses, but when it comes to trading the Aussie against the US dollar, this is a tough market at the moment and quite frankly we will be better served in other pairs.

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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