NICE EOY MOVE FOR THE AUD 12/30/14

THE AUD was beaten down leading into the end of the year, selling below previous SB levels. Short break out target.  See terms/prior post for BOT levels and 50CB discussions).

Monday evening/Tuesday in OZ, the AUD price was at the lower end of the LB-SB range run and had a slight gap, which is a bullish signal.

Buyers had entered previously near the SB for a run to test the LB where a "D-Tracy" pattern developed and forced price to run the range back lower.  The new gap, albeit lower, had a 50CB to test near the MB and another just above.  Both of these would hit and fail, pushing price even ;lower.

As each 50CB test failed, it drew away resistance at those levels.  A bullish channel developed  allowing for nice long positions.

With resistance weakened, and the market not showing signs of breaking the bullish support just below the SB, the market was primed for a range run to the LB.  Since the break out attempts at the SB were weak, the LB was deemed to have a significant run break.

End to a great year.   Hope all have a safe and prosperous New Year.