The AUD/USD pair went back and forth during the course of the session on Thursday, as we simply did not go anywhere. We believe that this market is essentially waiting for some type of clarity coming out of the nonfarm payroll number. The 0.80 level below is massively supportive, and as a result we are not comfortable selling quite yet. But if we did find some type of supportive candle, we may be able to take a countertrend trade to the upside. On the other hand, if we did close below the 0.80 level with any type of strength, we would be sellers.
