The AUDUSD pair broke higher during the course of the day on Thursday, but found the 0.92 level to be far too resistive in order to go higher.

That being the case, we ended up turning back around and falling significantly.

The resulting candle is a massive shooting star, and it appears that the Australian dollars going to continue to start falling.

We believe that this market is going to target the 0.90 level, and that of course means that we continue to see weakness going forward. We will look to short-term charts that being in selling.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account.  The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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