AUD/USD Bounced off from 0.8065

AUD/USD broke out above the last high it had formed at 0.7990 with relative ease, despite the spinning top candlestick it had formed on the daily time-frame at that level, and then continued moving to the upside, forming a new high at 0.8065. The pair bounced off from that level as well, and this time formed a very impressive shooting star candlestick on the daily time-frame. While the spinning top candlestick was a sign of indecision, the shooting star is a more certain signal for a likely new move to the downside. If AUD/USD does start moving to the downside the closest target will likely be around 0.7900. On the other hand, a breakout above 0.8065 could lead to a further rally towards 0.8300, which is the (MA)89 indicator on the monthly time-frame.