AUD/USD Forecast April 17, 2014, Technical Analysis

The AUD/USD pair tried to rally during the session on Wednesday, but as you can see pulled back enough to form a shooting star. This shooting star suggests that the market is ready to continue falling, but quite frankly we see so much support in the neighborhood of 0.9250 that we expected by support candles at lower levels. We have no interest in selling at this point in time, as we believe that there is a significant area of support in the general vicinity. We ultimately believe that this market does go to the 0.95 handle.

 

AUD/USD Forecast April 17, 2014, Technical Analysis