The Australian dollar bounced during the day after initially falling on Thursday. This was due mainly to the 200-exponential moving average coming into play, which allow long-term traders pay attention to. Because of this, I think that this pair will be volatile the day with the jobs number coming out but I also expect to see massive support below the 0.75 handle. I’m currently looking for a buying opportunity in this market, but I don’t see it yet. With this, pay attention to gold if it rallies that should continue to help the Aussie as well.
Written by FX Empire