The AUD/USD pair initially fell during the course of the day on Wednesday, but turn right back around to form a bit of a hammer. The hammer of course is a very bullish sign so if we can break above the top of that, I believe that we will bounce. On the other hand, if we break down below the bottom of the hammer, that would be a very negative sign. It’s possible we may have to wait until the jobs number comes out to get a straightforward signal though as quite often it is quite right before that announcement.
