The AUD/USD pair initially tried to rally during the course of the session, but as you can see struggled above the 0.79 level, and as a result ended up forming a shooting star. With that, we feel that the market will then continue to break back down, as we should head towards the 0.76 level. This would simply be a continuation of the consolidation that we’ve seen for some time, and as a result we are bearish on a break down below the bottom of the range for the session on Tuesday.
