AUD/USD rose during the session on Wednesday as all risk related pairs did. The open speculation now is that the Federal Reserve will ease again because of the poor jobs number. Also, with the situation in Europe worsening, it is possible that they will be forced to none the less. However, there is nothing concrete, and this makes rallies like this very susceptible to negative headlines.
The 0.99 area is still holding as resistance, but only just. A break of the 0.9950 level has this pair looking for the parity level, and a break of that level has us buying. Otherwise, we are waiting for weak action to fade.
Written by FX Empire