The AUDUSD pair rose during the session on Wednesday, but remains within the consolidation area that we had seen form over the last several weeks.

Because of this, we are relatively ambivalent when it comes to this marketplace, simply because there far too many choppy little areas between the 0.9250 level, and the 0.9350 level.

With that, we are simply sitting on the sidelines and waiting to find some type of impulsive candle in order to get involved in the market in one direction or the other.

Until then, we have no interest in risking our capital.

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.

Content curiosity of FOREXCycle