AUD has Broken Out: Are we Headed Back to 80 cents?

I’ve been speaking a lot about the potential of the Aussie to continue to break down longer term and make it to the sub-75 cent area.

It seems to me that the USD has different ideas.

After the release of the FOMC minutes, the AUD/USD was sharply higher and has broken out of the downward channel that had been serving us well and helping us identify a number of great opportunities.

Jobs Data the Key

We have the employment data out of Australia due at 11:30am local time.

That might be the deciding factor the fate of the Aussie for today’s session. Any positive outcome will certainly bring 80 cents back into focus.

A negative result means that we might pull back into the channel.