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Jamie's Pick: 08/07/12

Jamie's Pick: 08/07/12

Jamie Saettele, CMT, Sr. Technical Strategist

The drop from the Sunday night high in EURAUD is in 3 waves (corrective) and culminated with a spike lower on RBA last night. 11680 wasn't quite reached (the ideal level we were looking to get long from) but risk at the current juncture can be kept to last night's spike low of 11696. Focus remains on 12100+.

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