The AUD/USD pair spiked and managed to get above the 1.05 level during the Thursday session, but fell back down below it. This just signifies how
The AUD/USD pair spiked and managed to get above the 1.05 level during the Thursday session, but fell back down below it. This just signifies how resistive the area it really is, and as a result we need to see a broken above in order to go long with any serious confidence. However, with this being nonfarm payroll Friday, we could see that in relative short order. We still like this pair overall, and do think that eventually it will be a screaming buy. With all this being said, if we can break the highs from the Thursday session, we will be long the Australian dollar.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
