By ForexMansion.com
The AUD/USD pair continues its grind higher, and looks like it is ready to test the 1.02 level again. The real question now is whether or not it will break out. Since this pair tends to follow the gold markets over time, it appears that one may lead the other as gold finds itself in a similar position. Until a clean break above 1.02 is determined, this pair cannot be bought. Once we break out, the final target could be as high as 1.07 based upon the measurement of the rectangle we are in. Weakness at 1.02 signals more consolidation is needed.
