The AUD/USD pair initially fell during the course of the session on Friday, but turn right back around to form a bit of a hammer. This was preceded by a couple of shooting stars though, so it looks as if the market will have to build up momentum in order to continue going higher. Perhaps that’s what the hammer was a sign of, simply that there is quite a bit of resiliency. Ultimately, if we can break above the top of the shooting star from the Thursday session, the market should then reach towards the 0.80 level which is our longer-term target.
