The AUD/USD pair initially tried to rally during the course of the session on Friday, but found enough resistance above the 0.78 level to turn things back around and form a shooting star. The shooting star of course suggests that the market is ready to go lower, and if we can break below the bottom of the range for the session, we feel this market should then head to the 0.76 level next. If we broke above the top of the shooting star, we still think there is enough resistance above to keep the market in a downtrend over the longer term as well.
