AUD/USD Forecast May 20, 2014, Technical Analysis

The AUD/USD pair fell hard during the session on Monday, but let’s keep in mind that we’re still well within the consolidation range. So while we fell hard in relation to the overall range of trading in the last week or so, it still wasn’t really that devastating to the value of the Australian dollar. In fact, we welcome a pullback it here as we believe that the 0.9250 level will be much more supportive. With that, we are buying supportive candles between here and there, and not interested in selling at this point in time.