The AUD/USD pair fell during the session on Friday as the Non-Farm Payroll numbers were better than expected. However, it should be noted that the recent hammer at the 1.05 level is still there to offer support, and we haven’t broken below it yet. The pair is still in “buy only’ mode for us until we get a daily close below the 1.04 level as well. This pair will continue to benefit by the perceived soft landing in China as well, since the Aussies supply China with a large amount of its hard goods. With this in mind, we continue to buy dips in this pair until 1.04 gives way.
Written by FX Empire