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Jamie's Pick: 05/29/12

Jamie's Pick: 05/29/12

Jamie Saettele, CMT, Sr. Technical Strategist

AUDUSD

Support is expected from last week’s close to last night’s low (9755-9800). Longs are favored, especially below 9800, towards 9935/65. 10020 is considered an aggressive bullish target but also the ideal level to initiate shorts for resumption of the larger bear.

NZDUSD

Support is expected from last week’s close to last night’s low (7835-7580). Longs are favored, especially below 7580, towards 7685-7750. 7810 is considered an aggressive bullish target but also the ideal level to initiate shorts for resumption of the larger bear.

To contact Jamie e-mail jsaettele@dailyfx.com.

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Jamie is the author of Sentiment in the Forex Market.

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

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