AUD/USD Forecast February 29, 2016, Technical Analysis

The AUD/USD pair formed a massive bearish candle during the day on Friday, and as far as the week is concerned we ended up forming a shooting star. That being the case, if we break down below the bottom of the range during the course of the session on Friday, we would be sellers at this point in time. Short-term rallies at this point in time should show signs of exhaustion that we can sell as well, so at this point in time we are “sell only” when it comes to the Australian dollar.