The AUD/USD pair fell on Friday as the Americans released a stronger than anticipated jobs number, which of course drove the value the US dollar up, and the value of gold down. Remember, the Australian dollar typically tracks the gold markets which got somewhat whacked during the session. We still see support below though, so were not necessarily ready to start selling at this point, rather we are on the sidelines. It isn’t until the Australian dollar dipped below the 0.92 handle on a daily close that we are willing to start selling. Alternately, a supportive candle near that level would be interesting enough for us to start thinking about a long position.
Written by FX Empire