The AUDUSD pair went back and forth during the session on Thursday, ultimately printing a fairly neutral candle. This neutral candle suggests that the market is and quite ready to make a decision yet, although it is decidedly a bullish market at this moment.

The 0.92 level below of course is support, and a pullback to that area would be a potentially significant buying opportunity, and we still believe that the 0.95 level will be targeted.

If we break the top of the shooting star from the Wednesday session, that is in fact a buying opportunity as well.

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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