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Jamie's Pick: 10/02/12

Jamie's Pick: 10/02/12

Jamie Saettele, CMT, Sr. Technical Strategist

AUDUSD shorts were taken early in US trading (released via Twitter @JamieSaettele). I had been looking to short strength into 10340 but the post RBA bounce could only muster 10320. As long as price is below 10405, I'm looking towards parity (Fibonacci confluence is just below 10000) in what could be wave E of a long term triangle. Levels that may produce support along the way (for more active traders) are 10280, 10225, 10165 and 10100.

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