AUD/USD Forecast August 17, 2016, Technical Analysis

The Australian dollar rally during the session initially on Tuesday, but turn right back around to form a bit of a shooting star that sits upon the previous resistance and 0.7675, as we await the employment numbers coming out of Australia later today. With this being the case, we very well could get some type of knee-jerk reaction. A break above the top of the shooting star would be a very bullish sign, but a breakdown doesn’t necessarily mean that we are going to do anything more than try to find value below that should build momentum.