Friday, December 5, 2014

Possible bullish pullback on the AUD/USD

The US Dollar remains very strong after today’s jobs data out of the United States showed that the US economy is in good track and the outlook seem rosy. The Non-Farm Payrolls number came out a lot better than expected, salaries went up, and the unemployment rate remained at 5.8%. This has put pressure on pairs like the AUD/USD, which has broken below the 0.8400 level. However, we should pay attention to a possible pullback to the 0.8400 level, which could act as resistance and hold the price there. That could present us with an opportunity to go short.


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