The AUD/USD pair attempted a rally on Thursday as the 0.97 level was tested. The resulting candle was green, but just barely. Even more interesting is the fact that the candle is a shooting star at the bottom of the recent move. In fact, the session saw a fresh low for a moment, and one would have to wonder if we would have stayed down there if we didn’t have a major economic announcement today. (Non-Farm Payroll) Because of this, we feel that this pair is going to continue to fall, and a break of the lows has us selling yet again. As for buying – we aren’t ready to do that anytime soon.
Written by FX Empire