AUD/USD Forecast April 26, 2013, Technical Analysis

The AUD/USD pair rallied during the session on Thursday, but as you can see gave back most of the gains in order to form a shooting star. This shooting star is sitting above two hammers, which essentially means that we have a lot of confusion in the market more than anything else. As long as that’s the case, it’s wise to simply stay out of the pair as they can only bring you trouble in the end. Nonetheless, we do look at this is a market that’s down towards the bottom of the recent consolidation, so we do have more of an upside bias than the downside.



Written by FX Empire