AUD/USD Forecast June 13, 2016, Technical Analysis

The AUD/USD pair fell slightly during the course the day on Friday, slicing through the 0.74 handle. Because of this, and of course the fact that we ended up forming a shooting star on the weekly chart, I feel that this market will continue to go lower, and a break down below the hammer from the Monday session would be reason enough to start selling as the market will probably drop down to the 0.72 level, and perhaps even lower than that. As far as buying is concerned, we would have to break above the 0.75 handle.