AUD/USD Forecast May 2, 2014, Technical Analysis

The AUD/USD pair went back and forth during the session on Thursday, showing that the market is still continue to go sideways just above the 0.9250 level. With that, we feel that the market is simply taking a rest, and that we will more than likely see buyers stepping into this marketplace to push it higher. The 0.95 level should be the target eventually, but in the meantime we feel that the market will essentially chop around and therefore probably scare out a lot of small traders. We feel that this market does go higher given enough time, but you have to be patient and let the market do its thing.