The AUD/USD pair managed a bounce from the two previous hammers that it printed this week. The Friday action was positive, but not overly so. The pair looks like it is going to grind higher, so a long is acceptable, but you should be aware that this pair could be pushed around by the events unfolding in Europe. The pair is a “barometer of risk” and could be greatly affected by news. The pair does however look set to grind towards 1.05 before parity. It sometimes will follow gold, and it looks like that might be the case in the near-term.
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