AUD/USD Forecast May 12, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 12 May 2016 08:35 UTC
The AUD/USD pair fell initially during the course of the session on Wednesday, but turned right back around to form a hammer. A break above the top of the hammer would be a buying opportunity and the 0.73 level below should continue to be very supportive. With this, we believe that the market will try to get towards the 0.75 level, and then possibly the 0.78 level after that. At this point in time, it looks as if the 0.73 level below continues to be a bit of a “floor” in this marketplace.

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.