Following a period of extended gains for the AUD/USD signs of a more meaningful reversal lower have emerged. This comes with an Evening Star candlestick pattern forming on the daily. The move lower for the pair comes following an emergence of selling pressure just shy of the 0.9085 level as suggested in yesterday's candlestick report.
Confirmation of the Evening Star pattern from a second down day is required before offering bearish technical bias for the Aussie. A continued reversal may eventually prompt buying support around the critical 0.8850 mark.