The AUD/USD pair tried to break out during the day on Thursday, but struggled to get out of the consolidation area, forming a massive shooting star. The shooting star of course signifies that the bearish pressure is starting to build up, and as a result we feel that a pullback in the Australian dollar will probably happen. A break below the bottom of the range for the day on Thursday is reason enough to start selling, but for short-term opportunities only as we believe that there is a massive amount of support below.
