The AUDUSD pair rose slightly during the course of the day on Thursday, breaking above the top of the candle from the Wednesday session.

Ultimately, we could rally from here but I think there’s plenty of resistance above that should continue to work against the value of the Aussie.

With the jobs number coming out, it’s likely that the market will continue to plague the market, so at this point in time it’s likely that the markets will have to wait until we get the jobs number to make a move. At this point, I’m essentially on the sidelines.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account.  The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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