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Jamie's Pick: 06/08/12

Jamie's Pick: 06/08/12

Jamie Saettele, CMT, Sr. Technical Strategist

Trades are structured with consideration to current wave structure in risk. For the next few days, I’m likely to be bearish on rallies. The following charts outline risk management levels (red is resistance, blue is support, black in interim levels to consider). I favor shorts on rallies in the AUDUSD and AUDJPY into resistance.

Levels are noted in this morning's report.

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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.