Jamie's Pick: 09/26/12
EURUSD 12740/50 and AUDUSD 10260/75 are of particular interest in the near term, not only as magnets that attract price but also as levels to expect a market response (bounce in this case). 12740/50 is the 38.2% retracement of the rally from the June low, June high (12747) and 9/10 & 9/11 lows (12754). I am looking lower against 12970. AUDUSD 10260/75 is the trendline support today (10280), 9/7 low, and 100% extension of the decline from the top. Short term downward sloping channel support intersects the level tomorrow. I am looking lower against 10462.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.