AUD/USD Forecast July 8, 2016, Technical Analysis

The AUD/USD pair had a slightly negative session as we continue to hug the 0.75 level. This is an area that continues to attract quite a bit of attention so at this point in time I believe that the market will probably sit still until we get the announcement from the Bureau of Labor Statistics. With this, the market will more than likely find quite a bit of choppiness over the next few hours, but could eventually decide on a direction if the jobs number is strong enough. If we get a really strong member, the Australian dollar will pick up due to risk appetite. On the other hand, if we get a very poor number it’s likely that this pair will fall.