The AUD/USD pair tried to rally during the course of the session on Tuesday, but fell back down as we approached the 0.82 level. That being the case, the market ended up turning back around and forming a shooting star. With that being the case, the market should then head back towards the 0.80 handle, but ultimately we believe we are simply consolidating. The 0.80 level below is massively supportive, so we do not anticipate this market breaking down below there. However, we are not comfortable buying this pair regardless as the downtrend is still strong.
