The AUD/USD pair initially tried to rally during the course of the session on Tuesday, but struggled at the 0.75 level ended up turning things back around and form a shooting star in order to show signs of weakness. I believe that the yellow box that’s on this chart will continue to be the trading range in this market for the short-term, so it’s very likely that a break down below the bottom of the shooting star would send this market looking for the 0.74 level. Alternately though, if we can break above the top of the range for the day on Tuesday, I feel that the market could go much higher.
