December Australian dollar futures a buying opportunity on more price strength.
See on the daily bar chart for the December Australian dollar futures that prices have backed off a bit from the recent high, on profit taking. However, an uptrend line is still firmly in place and the bulls still have the overall near-term technical advantage. A move above chart resistance at Thursday’s high of .9639 would give the bulls some fresh upside technical momentum and it would also become a buying opportunity. The upside price objective would be 1.0000, or above. Technical support, for which to place a protective sell stop just below, is located at .9476.
