The AUDUSD pair fell during the day on Wednesday, but remained supported near the 0.9250 level, just as we had anticipated.

Because of this, looks like the market is ready to go sideways overall, and that it’s probably one that’s best left alone.

It is not until we break below the 0.92 level that we would consider selling at this point, and buying cannot be done until we break the top of the shooting star from last week.

In the meantime, this really nothing to do in this marketplace as a continues to just grind away.

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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