The AUD/USD has broken out of the recent consolidation area between 0.97 and 1.0000. Because of this, you cannot risk taking a short position, even if the daily bar is shaped like a shooting star. There is simply too much interest in this pair at the 1.02 area, and that area should show up as support as it attracts new buyers. If you are not involved in this pair at the moment, any sign of strength on a pullback to 1.02 would be an ideal set up.
Written by ForexMansion.com