AUD/USD Forecast May 28, 2015, Technical Analysis

The AUD/USD pair initially broke down during the course of the day on Wednesday, but found enough support below the 0.77 level to turn things back around and form a hammer like candle. With that being the case, if we can break above the 0.78 level, we would be buyers at that point in time. On the other hand, if we break down below the bottom of the candle for the Wednesday session, then we would be sellers and aiming for the 0.7580 handle. In the meantime though, we have to be very careful as this market is extraordinarily noisy.