AUD/USD Forecast August 18, 2016, Technical Analysis

The AUD/USD pair initially tried to rally during the day on Tuesday, but then sliced through the bottom of the shooting star that had formed on Monday. This is a market that looks very negative over the last 24 hours, and as a result we may need to continue to grind a little bit lower in order to find support. I don’t have any interest whatsoever in selling though, because we have so much in the way of noise just below and as a result it’s only a matter of time before the buyers return.