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The Australian dollar had a very nice bounce, but it’s all over. From resistance at 0.8820, the pair began sliding down, and these losses severely accelerated with the publication of the excellent US Non-Farm Payrolls report. The US economy gained 248K jobs and previous reports were revised higher.

Update: AUD/USD breaks to the  lowest since 2010.

The chart shows that the pair is  nearing the double bottom formed earlier in the week, at 0.8660. Will it break or bounce this time?

AUDUSD Falling October 3 2014 on US Non Farm Payrolls approaches double bottom Australian dollar chart

A lot depends on the ISM Non-Manufacturing PMI. Next week, Australia  sees the ANZ ads figure, which is an early indicator for the official jobs report in Australia. It is also released early in the week, in the Australian Monday morning.

For more, see the  AUDUSD forecast.

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