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Jamie's Pick: 10/03/11

Jamie's Pick: 10/03/11

2011-10-03 15:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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The AUDUSD continues to slide and focus is on several big levels, including the November 2010 low at 9537 and the 2009-2010 double top at 9400. The channel that defines the trend since the July top is of particular interest and crosses 9455 today (decreases about 10 pips per day). As long as price is below last night's high of 9700, the downside is favored short term. Exceeding that level would shift focus to 9770.

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