AUD/USD Forecast August 19, 2016, Technical Analysis

The AUD/USD pair went back and forth during the course of the day on Thursday, ultimately turning around to form a bit of a shooting star. The fact that we have formed a shooting star in this area yet again tells me that the market isn’t quite ready to make a significant move yet. We have been testing resistance for a while now, but we certainly haven’t been able to break above it. I believe that pullbacks offer buying opportunities, based upon supportive candles as they appear. I have no interest whatsoever in selling the Aussie dollar right now.