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The AUD/USD pair had a stellar day on Friday as the jobs report in the United States came out poorly. This signals that the Federal Reserve will more than likely be forced to embark on more quantitative easing, and this always tends to favor the commodity markets and the commodity currencies as well.
The pair stopped at the 1.04 level, but it should be said that in just 48 hours the pair has risen over 350 pips. By any measure, this is a very significant move. With signs of strength like this, we are more than willing to buy any pullbacks as they come.