The Australian dollar initially rallied during the week but gave back the gains to show signs of hesitation. The RBA initially shocked the market to the upside by dropping the word “patience” from the statement, thereby having people think that they were closer to raising rates. However, the FOMC minutes released were very hawkish, and we started to see money flow back into the US dollar. With that in mind, it does make a certain amount of sense that we have formed this massive shooting star right at a resistance barrier. I suspect we could very well pull back further from here.