The AUD/USD pair spiked and managed to get above the 1.05 level during the Thursday session, but fell back down below it. This just signifies how resistive the area it really is, and as a result we need to see a broken above in order to go long with any serious confidence. However, with this being nonfarm payroll Friday, we could see that in relative short order. We still like this pair overall, and do think that eventually it will be a screaming buy. With all this being said, if we can break the highs from the Thursday session, we will be long the Australian dollar.
Written by FX Empire