AUD/USD Forecast April 4, 2014, Technical Analysis

The AUD/USD pair fell during most of the session on Thursday, but found enough support to turn things back around and form a hammer. They hammer of course is a sign of bullishness, but we can some resistance in the same general area as well. Because of this, we feel that this market will more than likely make a decisive move today after the nonfarm payroll numbers come out, which of course could settle the next couple of handles. On a break above the highs from the Tuesday session, we are more than willing to buy this market. On the other hand, if we break the bottom of the hammer from Thursday, we feel this market probably dress back down to the 0.91 level.