The AUD/USD pair tried to rally above the 0.9650 level, but in the end failed miserably. The resulting candle was a shooting star, which of course is always a very sign. This shooting star sits right on top of the recent low, and as a result we feel that this market will continue lower. If we can get below the lows of the Tuesday session, we are going to start selling again. We think that eventually, the Australian dollar could drift as low as 0.90 as the outlook is so poor.
Written by FX Empire