Jamie's Pick: 09/21/12
Today – the AUDUSD is up slightly more than the NZDUSD but the NZDUSD remains the strong setup. Having already extended through its 61.8% retracement, the NZDUSD is nearing the high. Expectations are for acceleration (probably next week) towards 8400. 8280/90 is now support. The AUDUSD faces potential resistance at 10525 today and support is now 10445/58. The weight of evidence favors dip buyers. The EURUSD faces resistance at 13057/75 and one still cannot rule out a test of 12900. The larger trend is up regardless but EURAUD and EURNZD bearish evidence does suggest that NZDUSD and AUDUSD are better plays.
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