AUD/USD Forecast September 23, 2016, Technical Analysis

The Australian dollar initially rallied during the day on Thursday, but turned around to form a bit of a shooting star. The shooting star is very interesting candle for me, because it shows that the highs are continuing to get progressively lower. With that being the case a break down below the bottom of the shooting star should be a selling opportunity, perhaps for a short-term opportunity at best. A break above the top of the shooting star would be very bullish, but I still think there is more than enough noise above to keep me from buying.

Economic Calendar