AUD/ USD Forecast May 12, 2014, Technical Analysis

The AUD/USD pair fell during the bulk of the Friday session, but kept in a somewhat tight range. That being the case, we feel that the market will start buying on a break above the highs from the Thursday session. Ultimately, we feel that the market will head to the 0.95 handle given enough time. Pullbacks at this point in time should offer buying opportunities on supportive candles. The 0.9250 level is massive support, so we feel that the market is essentially a “buy only” market at the moment, therefore we have absolutely no interest in selling.

 

AUD/ USD Forecast May 12, 2014, Technical Analysis