AUD/USD Forecast July 18, 2016, Technical Analysis

The Australian dollar rallied a bit during the session on Friday, but turn right back around to form a bit of a shooting star. We also formed a shooting star on both Wednesday and Thursday, so at this point in time I do believe that we are going to pull back a little bit from here. I do think that there is enough psychological support near the 0.75 level, so any type of supportive candle in that area should be a nice buying opportunity, just as a break above the top of all of the shooting stars would be.