The AUD/USD pair rallied during the session on Friday, but found enough resistance of the 0.90 level in order to pull back and form a shooting star. This only reinforces the bearishness of this pair, and therefore we think eventually the pair will start to fall again. However, until the nonfarm payroll numbers come out on Friday, it’s very likely that this pair will grind sideways. Nonetheless, we think rallies will be selling opportunities, and we will treat them as such. We have no interest in buying this pair below the 0.92 handle.
Written by FX Empire