The AUD/USD pair tried to rally during the course of the day on Thursday, but turned back around at the 0.77 handle to form a nice-looking shooting star. We believe that this market breaks down below the bottom of the shooting star, the market should then head to the 0.76 handle. If we break below there, we feel that the market should head to the 0.75 level. That level should be supportive enough to cause a bit of a bounce, but ultimately if we break down below there the market head to the 0.70 level. With no interest in buying at this point in time.
