The Australian dollar initially tried to rally during the trading session on Thursday to break above the 50-Day EMA, only to turn around and show signs of negativity. Ultimately, this is a market that I think is trying to settle into some type of short-term range to get ahead of the nonfarm payroll announcement. Remember, this is a pair that has been consolidating between the 0.6450 level in the 0.6650 level for some time, with the occasional “throw over” coming into the picture. As we are in the middle of this mess, and we just can’t really get any momentum, the reality is that this is still a very range bound ... (full story)