The AUD/USD pair fell during the day on Thursday, testing the vital 0.75 level. This is an area that should continue to be important, as it was so resistive in the past. Because of this, it will be interesting to see what happens next, and we will probably have to wait until after the jobs number comes out in order to place a trade. A breakdown below the bottom of the candle for the day would be negative, but I think there’s a lot of noise between here and the 0.74 level underneath. Alternately, if we can break above the top of the range during the day on Thursday, and then the market should bounce over the longer term.
Written by FX Empire