AUD/USD Supported by Bulls

The AUD/USD pair was trading to the downside for quite a while going from 0.8120 to a low of 0.77851. Immediately after touching the lowest low, bulls took control and the pair sky rocketed to a high of 0.7875. Main trend on the short-term has shifted from bearish to bullish.

Today's NFP and Jobs data will give an indication where the US dollar is headed and this could result in either a boost to sustain current AUD/USD direction or a push down to prior lower levels.

Whatever the case, until then the pair remains bullish with big potential to the upside. Major bull target is seen around 0.8150 while major bear target is seen at 0.7650.

The pair has been on its uptrend for most of the year as the move up started mid-May and since then bulls have been in charge.

Chart: AUD/USD H4