The AUDUSD pair tried to rally significantly during the session on Thursday but failed. The pullback ended up forming a shooting star, and as a result it looks like the market wants to stay within the consolidation area.

However, today is nonfarm payroll, and as a result it’s likely that this market will see quite a bit of volatility.

If we break above the top the shooting star, will more than likely head to the 0.9450 in a.

However, we pullback think that the 0.9250 level will continue to be supportive. We are not looking for big moves anytime in the short-term.

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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