AUD/USD Forecast April 18, 2014, Technical Analysis

The AUD/USD pair fell during the session on Thursday, but remains above the massive support area at 0.9250, and as a result we are not interested in selling. We believe that a supportive candle below could be a nice buying opportunity, but we don’t have it at this moment so we are simply on the sidelines. We need to get below the 0.92 level to start selling significantly, and as a result we are sitting here and waiting for the right candle to get involved, but recognize of the Australian dollar is it an interesting place to see buyers step back in.

 

AUD/USD Forecast April 18, 2014, Technical Analysis