The AUD/USD pair shot straight up during the session on Friday as the nonfarm payroll numbers cannot weaker than anticipated. Because of this, the market seems to be suggesting that the Federal Reserve will be tapering anytime soon. If that’s the case, gold should continue to appreciate in value, and that should continue to drive the Australian dollar higher. With that in mind, we are buyers of this market if we can get above the 0.90 level, which is basically where we stopped for the session. Because of this, we are bullish, but only for the next couple of handles.
Written by FX Empire