The AUD/USD pair fell during the session on Thursday, raking back down below the 0.95 handle. However, we did find support at 0.9450 level again, so therefore we feel that this market is simply consolidating. Because of this, we think that the markets essentially waiting for the nonfarm payroll numbers to come out, which is typical. The Australian dollar will do fairly well if the jobs number is fairly light, but keep in mind that we need to break above the 0.9550 level in order to get overly excited about being long of the Aussie dollar.
Written by FX Empire