Jamie's Pick: 10/04/11
It is time to shift to neutral at least in the interim (this goes for 'risk' in general).
The AUDUSD has reached the long cited bearish target of 9400 and the channel that defines the trend from the July top. To review, 9400 is the 2009-2010 double top (2009 was slightly above 9400 and 2010 was slightly below). One would expect a bounce at minimum to materialize from here. Resistance is 9540 and 9590. These are levels that I may turn bearish at again.
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