AUD/USD Forecast May 27, 2016, Technical Analysis

The AUD/USD pair had a slightly positive session during the volatile Thursday trading day, but at this point in time we are still looking for selling opportunities, especially if we get close to the 0.73 level. There are 3 moving averages on the chart, the 50, 100, and 200 day moving averages, and you can see they look like they are ready to start crossing. If that’s the case, that’s a longer-term “sell and hold” type of situation for longer-term traders. In fact, at this point in time I don’t even have a scenario in which I’m willing to buy. Alternately, if we break down below the bottom of the hammer from the Tuesday session, it would be a selling opportunity as well.