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Jamie's Pick: 01/10/12

Jamie's Pick: 01/10/12

2012-01-10 14:32:00
Jamie Saettele, CMT, Sr. Technical Strategist
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My short was triggered last night at 10300. The AUDUSD has continued higher and is nearing the early month high of 10385 (stop level) thus confidence is low in the downside bias. The NZDUSD is at a new high for the month which signals a potential divergence but I may be searching for something to confirm my bias. Bottom line here is that I'll stay with the short side as long as price is under 10385. Support today is 10275.

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