The AUD/USD pair fell hard on the session for Thursday as traders prepared for the important Non-Farm Payroll numbers today. The announcement should be one of the most important this year, as the markets try to figure out if the Federal Reserve will have to ease again. If this is the case, there is a real chance that gold and other commodities will be bought, and the Aussie should rise in concert as well. The 1.02 level looks as if it is very important as support, so a break below it has us selling this pair none the less. In fact, there is a case to be made for a bearish flag if it gives way. On a daily close below that level – we are selling. If we rise and close higher for the day, we would buy on Monday.
Written by FX Empire