The AUD/USD pair try to rally during the session on Wednesday, but as you can see fell after doing so. The resulting candle is a shooting star, and this of course suggests that the market is going to continue lower. However, the market should be relatively supported below at the 0.88 handle, and as a result we would have to break down below that to start selling with any significant amount of trading capital. That being the case though, we think short-term players will continue to fade any rally that occurs between here and the 0.90 level.
Written by FX Empire