The AUDUSD pair gapped higher at the open on Monday, but then just sat there.

Because of this, I don’t put too much stock into the Itself, but I do recognize that the market is trying to go higher.

It is going to be choppy between here and there, but I think eventually we could get to the 0.78 handle.

Pullbacks at this point in time should continue to find support, and I will look at them as value when it comes to the Aussie dollar.

A supportive candle below would be a nice buying opportunity.

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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