The AUD/USD pair tried to rally during the session on Monday, but as you can see found far too much resistance and formed a shooting star. Because of this, we think that the market is going to attempt to break down a little bit from here, possibly looking for the 0.90 handle. A break of the top of the shooting star does not have us buying as it normally would, rather has is looking to sell at higher levels, perhaps the 0.9250 handle, which of course looks very resistive at this moment.
Written by FX Empire