AUD/USD Price Forecast – Australian Dollar Quiet on Good Friday

The Australian dollar has gone back and forth on Friday as liquidity would have been a major issue, not only due to the holiday, but the jobs number coming out.
The Australian dollar has gone back and forth during the course of the trading session on Friday as it was a holiday and of course the jobs number would have been a major influence for traders to avoid the market as well. That being said, the Thursday candlestick was a hammer, so the question now is whether or not the Australian dollar will continue to bounce, or will we break back down? It certainly looks as if the Aussie is being threatened at the moment, so I think it will be interesting to pay close attention to the reaction that we see on Monday.
If we were to break down below the bottom of the hammer from the Thursday session, this market will almost certainly break down towards the 200 day EMA and then eventually the 0.71 handle. Sitting above current trading we have the 50 day EMA that could cause a certain amount of resistance, so that is worth paying attention to as well.
The Australian dollar course is going to be very highly sensitive to the commodity markets and the reopening trade. There is a huge infrastructure trade out there to be had in the US dollar, so it is almost certainly worth paying attention to, because if the United States does in bark on massive infrastructure spending, it is very possible that commodities will rip to the upside. However, you cannot ignore the fact that the candlestick was a massive shooting star, and it certainly looks like the Aussie desperately needs some type of pullback.