AUD/USD Forecast May 7, 2015, Technical Analysis

The AUD/USD pair broke higher and even when above the 0.80 level again during the session on Wednesday, but for the second time upon reaching the level, the sellers came in and took over. With that, we believe that is only a matter of time before the market breaks down as we are starting to struggle in this general vicinity. With this, we are sellers on a break below the bottom of the shooting star as we think the market will generally fall apart if we do have that move. We have no interest in buying at the moment.

 

AUD/USD Forecast May 7, 2015, Technical Analysis