The AUDUSD pair went back and forth during the day here on Monday, as we continue to see interest somewhere near the 0.72 level.

However, this is a market that will be beholden to the gold and of course commodity markets in general.

With this, we believe that this market will continue to see a lot of volatility, but at this point in time we are bit hesitant to put any real money into this market.

We are waiting to see whether or not we get a selling opportunity, but at this point in time we do not see one.

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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