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Jamie's Pick: 01/23/12

Jamie's Pick: 01/23/12

Jamie Saettele, CMT, Sr. Technical Strategist

The NZDUSD has exceeded corrective channel resistance as well as the 50% retracement of the decline from the 2011 high. The next cluster of resistance isn’t until 8240/80 (October high / 161.8% extension of the rally from the November low / 61.8% retracement of the decline from the 2011 high). 8100 is short term support.

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