Australian jobs data: Topside risk for the AUD/USD
- There has been some poor economic data over the last two days but the AUD has risen in spite of this.
- FOMC burst the USD bullish bubble overnight.
- I see the main risk being to the topside post-jobs data. A strong number could set off another batch of short-covering (which I don’t think has really yet begun in earnest!).
- .9150/.9350 likely to cover most eventualities in coming sessions but its going UP!!