The AUD/USD pair tried to break higher during the course of the session on Tuesday, but as you can see struggled at the 0.80 level. That area was once massive support, and the fact that we have broken down below there and now have formed a resistant candle suggests that we do have a lower prices ahead. If we do break below the bottom of the shooting star, we feel that this market will continue to drop and head towards the next large round number, the 0.75 handle. With gold rising in the Australian dollar falling, this shows just how soft this currency is.
