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Jamie's Pick: 09/05/11

Jamie's Pick: 09/05/11

2011-09-05 15:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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An AUDUSD high may be in place as price has declined beneath the short term Elliott channel. More importantly, the decline from 10764 is impulsive (5 waves). Near term resistance is 10625. The implications from the above count are bearish as the next AUDUSD bear leg would result in a break below 9928.

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