Forex Analysis : AUD/USD … Where gold goes, the Aussie follows

Posting a new high at 1.0577 on Monday and retesting it again on Friday, the Aussie Dollar will move as long as gold continues to climb, with 1.0700 or so entirely possible in the near term.
Trade View
• Sometimes the forex charts are good at paining a picture with easy to read meaning, only to dumfound with a move in the opposite direction (market makers at work) and in the case of AUD/USD a quick pullback and breach of support at 1.0500 or so could see such an event take place.
• However the charts are bullish, and if gold hits 1500 or so, then it is all but certain the Aussie will hit a new high and will be on its way to the 1.0700-1.0800 range.

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