I went through the exercise of plotting the AUD/USD against XAU since the late 1960's.
What I found was a direct correlation between the two. XAU tends to move in one direction and then up to 6 months later the AUD/USD starts in the same direction.
Presently the AUD/USD is well behind the curve but is generally exhibiting and upward bias. If the correlation is to hold then AUD/USD would have to brake 1:1 in next 6 months.
AUD
australian dollar
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correlation between gold and audusd pair, page-8
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