The AUD/USD pair rose during the session on Thursday, pounding into the 1.04 resistance level. We closed right at that level, and as such it appears that the jobs number coming of the United States later today will be significantly important for the future of this currency pair.
With this being said, it appears that we are currently waiting to see what the jobs number will be in order to decide whether or not we want to trying to reach the top of the larger consolidation area at the 1.06 level, or if we want to turn around and fall back to the 1.02 level. At the end of the day on Friday, we suspect there will be a fairly clear signal as to which direction we want to be trading and. Until that happens, we will be flat of this market.
Written by FX Empire