AUD/USD forecast for the week of September 12, 2016, Technical Analysis

The AUD/USD pair initially tried to rally during the course of the week but found enough resistance at the 0.7675 level. By doing so, we turned back around to form a bit of a shooting star. The shooting star of course here is a negative sign, but there is a massive amount of support just below and as a result I think that you can’t sell this market. We certainly can’t do it from the long-term perspective, so having said that I think you have to look to the short-term charts in order to get involved, and quite frankly I would get out as soon as a signs of support.