AUD/USD Forecast June 3, 2016, Technical Analysis

The AUD/USD pair initially fell during the course of the day on Thursday, but turned around to form a little bit of a hammer. That of course is a sign of support, but we have a significant amount of resistance at the 0.73 level as the market has found itself forming a shooting star from the Wednesday session. Ultimately though, at this point in time I still feel that the Australian dollar will probably fall, but if we get above the 0.74 handle, at that point time I would be convinced that the Australian dollar will continue going higher.