The AUD/USD pair fell during the bulk of the session on Thursday, but as you can see found the 0.89 level supportive enough to form a hammer. It is this pair that could be greatly influenced by the nonfarm payroll number in my opinion, so having said that the fact that we have formed a hammer does in fact suggests to me that perhaps we are looking for a “risk on” type of move in the morning. Nonetheless, until this market closes above the 0.90 level, I am not willing to go long of this market, and will be looking to sell resistive candles.
Written by FX Empire