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Looking For A Bullish Extension *RES...>

AUSSIE TECHS
AUSSIE TECHS: Looking For A Bullish Extension
*RES 3: 0.6930 High Oct 31 and key resistance
*RES 2: 0.6912 200-day MA
*RES 1: 0.6909 High Dec 12
*PRICE: 0.6893 @ 17:27 GMT Dec 12
*SUP 1: 0.6800 Low Dec 10
*SUP 2: 0.6754/52 Low Nov 29 / Low Oct 17
*SUP 3: 0.6732 76.4% retracement of the Oct 2 to Oct 31 rally
AUDUSD rallied Wednesday, extending the move into the Thursday session. The pair
has cleared resistance at 0.6862/63 reinforcing a bullish outlook that began on
Dec 2. The move on this day confirmed a strong reversal candle pattern, a
bullish engulfing. The subsequent breach of resistance at 0.6835, Nov 19 high
reinforced the pattern. Attention is on the next hurdle for bulls at the 200-dma
at 0.6912. A break would open 0.6930, Oct 31 high and beyond. Support is at
0.6800.

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