The AUD/USD pair fell during the course of the day on Friday, as the nonfarm payroll numbers came out stronger than anticipated. With that being the case, the market looks like it’s heading down to the 0.80 level given enough time, and as a result we have no interest whatsoever in buying this pair. We believe that the Australian dollar will continue to suffer at the hands of the US dollar as commodities in general get absolutely pummeled. We believe that rallies will continue to offer value in the greenback as it is the favored currency around the world.
