AUD/USD Forecast May 16, 2014, Technical Analysis

The AUD/USD pair went back and forth during the session on Thursday, ultimately printing a fairly neutral candle. This neutral candle suggests that the market is and quite ready to make a decision yet, although it is decidedly a bullish market at this moment. The 0.92 level below of course is support, and a pullback to that area would be a potentially significant buying opportunity, and we still believe that the 0.95 level will be targeted. If we break the top of the shooting star from the Wednesday session, that is in fact a buying opportunity as well.

 

AUD/USD Forecast May 16, 2014, Technical Analysis