AUD/USD
• Choppy European after pair fails to clear 0.7840 & gets pushed near 0.7790
• Erratic action early NY as pair torn between firm US & rallying commodities
• USD lift abates & reverses, AUD/USD spikes & runs stops above 0.7850
• New trend high (0.7873) hit & little pullback, near 0.7860 late in day
• Techs are bullish & yield spreads bolster view, March high test likely
• Monthly close >0.7939 a bullish engulfing candle, more bull fodder
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