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Jamie's Pick: 10/09/12

Jamie's Pick: 10/09/12

Jamie Saettele, CMT, Sr. Technical Strategist

The EURUSD fell sharply on the European open but as focused on during yesterday’s webinar, the area in front of 12900 is strong support. I’m continuing to look higher as long as price is above 12876.

Continue to look higher in the NZDUSD towards the 61.8% retracement which is now also defined by the 100% extension of the rally from the low (as long as 8189 holds).

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.