AUD/USD soars on US payrolls

The bearish forecast for AUD/USD did not prove to be correct, as surprising fundamentals interfered with the sell-off from the down-trend resistance line. As a result, we may see the currency pair returning to the upper boundary of the channel. There the bears will have another opportunity to send the price below 0.76 and then towards 0.72. The bias is still negative, being that none of the important resistances have yet been broken.

There has been an increase in the share of longs back to 66% after a dip to 62%. In the meantime, there are substantially more orders to sell (72%) than to buy (28%) the Aussie, meaning its recovery is to face a lot of resistance.