AUD/USD Forecast April 24, 2015, Technical Analysis

The AUD/USD pair initially fell during the day on Thursday, but turned back around to form a rather positive looking candle. With this, we believe that the market should continue to go higher, but there is a significant amount of resistance just above that could turn the market back around again. We don’t like buying the Australian dollar, there are far too many reasons not to. However, if we get some type of resistive candle above, we would be very interested in shorting this market. With that, we believe that the sellers still run the show, and that the market is just simply losing bearish momentum in order to build up enough inertia to break down again.