AUD/USD Forecast August 26, 2014, Technical Analysis

The AUD/USD pair tried to rally during the session on Monday, but fell back down and formed a shooting star. That being the case, the market looks like a market that is still trying to go sideways. There is a significant amount of support down at the 0.92 area, and it is not until we break down below that area that we would begin selling. As far as buying is concerned, we need to see this market break above the 0.9350 level on a daily close, where we would anticipate a move to the 0.9450 level.

 

AUD/USD Forecast August 26, 2014, Technical Analysis