AUD/USD Forecast May 15, 2014, Technical Analysis

The AUD/USD pair broke to the upside during the session on Wednesday, but as you can see fell and formed a shooting star. The shooting star sits just above the sideways grind that we have been in for several days. With that, we are bullish, but we need to see the top of the shooting star broken in order to continue buying. At that point time, we feel that the market should head to the 0.95 handle, and even if the shooting star since the market lower from here, we think there is plenty of support between here and the 0.9250 handle.

 

AUD/USD Forecast May 15, 2014, Technical Analysis