USD Trading Outlook (04-04-2014)
The Australian Dollar (AUD): As Asia could not fully break the 0.9200 barrier, we saw short covering started as Europe session came in and pushed the pair to a high of 0.9245. USD/JPY support (103.80/85) hold and once again we saw another broad bid on the USD and sent the AUD back down to 0.9216 area. The AUD hugged the 200 hour MA for the rest of the session. Main focus for today will obviously be the U.S NFP data, a better than forecast number could see AUD clear 0.9200 barrier.
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