AUD USD Forecast May 7, 2014, Technical Analysis

The AUD/USD pair took off to the upside during the session on Tuesday, breaking the top of the hammers and more importantly, breaking above the sideways grind that we have been stuck in for 2 weeks. With that, the market close towards the top of the range, thereby signaling that more buying will more than likely continue. With that, we still anticipate this market will go to the 0.95 handle, but going forward we think that pullbacks could occur. Those pullbacks should in fact be buying opportunities in this market as short-term traders get involved

 

AUD USD Forecast May 7, 2014, Technical Analysis