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Jamie's Pick: 02/24/11

Jamie's Pick: 02/24/11

2011-02-24 16:32:00
Jamie Saettele, CMT, Sr. Technical Strategist
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I may have to alter the AUDUSD bias as a bullish triangle is looking more and more likely. Still, as long as price is below 10256, a bearish outcome remains possible. Bears need a break below 9803 in order to confirm such a reversal and a move above 10256 would shift focus higher following a bullish triangle break towards 10500 or even 11000. The range has tightened and the AUDUSD should reveal its hand soon.

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