AUD/USD Forecast May 13, 2016, Technical Analysis

The AUD/USD pair drove down to the 0.73 level during the day on Thursday, but bounced enough to form a bit of a hammer. This hammer of course is a bullish sign and if we can break above the top the Wednesday session, I feel that this market will probably try to go to the 0.75 level. The 0.73 level continues to be a bit of a floor in this market, so a break down below there would of course be very significant. Either way, we are going to have to make some type of decision as far as the Australian dollar is concerned.