AUD/USD Forecast September 2, 2014, Technical Analysis

The AUD/USD pair tried to rally during the day on Monday, but found enough resistance to turn things back around and form a shooting star. The shooting star keeps us in the consolidation area we have been in for some time, and as a result we feel that a pullback is probably coming. On top of that, the Reserve Bank of Australia will have an interest rate announcement today. Watch the wording carefully, as it will more than likely move the market to its next destination. At this point though, one has to think that the market will essentially flutter around this area.

 

AUD/USD Forecast September 2, 2014, Technical Analysis