AUD/USD May Start Falling Again

AUD/USD has been moving to the downside in a relatively choppy manner ever since it bounced off from the resistance at 0.8135 and it has been forming yet another retracement to the upside for the past two weeks or so. That movement may be at end, however, because the pair reached the resistance at 0.7780, which coincides with the (MA)89 indicator on the daily time-frame and formed several very telling candlesticks on the daily time-frame below that level. Namely, the pair has formed a pair of spinning top candlesticks and a very impressive shooting star candlestick. Even though AUD/USD is currently still testing the indicator there will probably be a new move to the downside towards the last low at 0.7640.