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Jamie's Pick: 04/12/12

Jamie's Pick: 04/12/12

Jamie Saettele, CMT, Sr. Technical Strategist

The April high at 10464 is the line in the sand for AUDUSD bears. Exceeding that level would shift focus to 10510 and 10595 (former supports). As long as price is below there, the trend is considered down and focus remains on the year to date low at 10145. Resistance is bolstered at the current level by the underside of former trendline support, channel resistance, 20 day average, and 200 day average.

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