AUD/USD Forecast May 26, 2014, Technical Analysis

The AUD/USD pair rose during the course of the session on Friday, testing the 0.9250 level. That area caused enough resistance to form a shooting star though, and as a result for the 2nd day in a row we had a very bearish candle. A break down below the bottom of the candle would more than likely send this market heading to the 0.90 level, and therefore make this market very bearish at lease for the short term. On the other hand, if we break above the top of the shooting star from the Thursday session, we are buyers.

 

AUD/USD Forecast May 26, 2014, Technical Analysis