AUD/USD fell during the session, but bounced back to form a hammer by the end of the day. This shows that the pair still wants to rise, and that the majority of traders think that the pair should rise. However, with the Non-Farm Payroll numbers set to be released during the US morning session, this pair could move again in a rapid manner today. We prefer selling if the bottom of the hammer gets violated as it shows a “hanging man”. The breaking of the highs would run into resistance, and could perhaps struggle.
Written by FX Empire