AUD/USD Forecast October 28, 2016, Technical Analysis

The AUD/USD pair broke down during the course of the day on Thursday, slicing through the bottom of the shooting star from Wednesday. Ultimately, this is a market that has plenty of support below, so it’s only a matter time before the buyers return as far as I can see. I think that we have been trying to break out above the 0.7750 level, so with this we are simply trying to build up enough momentum to finally continue to go higher. At this point, I don’t have any interest in selling but I of course have to keep an open mind down the road.