AUD/USD Forecast November 6, 2015, Technical Analysis

The Australian dollar went back and forth during the course of the session on Thursday, as we essentially are sitting on the sidelines waiting for the Nonfarm Payroll numbers to be announced. With this, we see quite a bit of support just below, but we also recognize that there is a significant amount of resistance at the 0.72 level as well. Ultimately, this is a market that looks a bit too choppy at the moment, and because of this we are on the sidelines of the market as it simply seems a bit too difficult to be involved at the moment.