{"id":32071,"date":"2012-09-04T10:46:16","date_gmt":"2012-09-04T14:46:16","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=32071"},"modified":"2012-09-04T10:46:16","modified_gmt":"2012-09-04T14:46:16","slug":"audusd-looking-for-a-bounce-has-the-longer-term-trend-changed","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/09\/04\/audusd-looking-for-a-bounce-has-the-longer-term-trend-changed\/","title":{"rendered":"AUD\/USD looking for a bounce. Has the longer term trend changed?"},"content":{"rendered":"

The Aussie has acquired some notoriety over the years the as the world’s leading commodity currency.\u00a0 Australia as a nation is digging up its minerals and shipping them to China and in return enjoying wealth and prosperity.\u00a0 Since Australia has become so dependent on China buying these hard assets for its GDP, should Chinese demand slow down Australia would suffer a significant economic loss.\u00a0<\/span>
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\n<\/span>In the short term the Aussie has been correcting its gain against the US Dollar from the $1.06 area.\u00a0 The Aussie has been as high as $1.10 in recent history and has served as a point of resistance since first touching this rarified air in April 2011.\u00a0\u00a0 In the daily chart below we can see how the TSI began consolidating while price moved higher from June 20th to August 10th and then ultimately rolled over with the price selloff.\u00a0 The Aussie is now seeking a short term bounce and the Fibonacci levels may help us identify where that bounce will come.\u00a0 No sign yet but having only reached 38.2% there are still multiple levels ahead of us.<\/span>
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\n<\/span>In the big picture on the weekly chart I wonder if perhaps this long bull run for the Aussie is coming to an end since the TSI is now below its long term moving average.\u00a0 If the sell off continues and price makes its way through the .9400 area we can surmise that the bull market for the Aussie is over and a bear one has replaced it.\u00a0 See the charts.<\/span><\/p>\n

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Sea Lion Capital\u00a0Management\u00a0LLC<\/a>\u00a0provides ETF and Forex analysis as well as buy\/sell signals. \u00a0For more information please visit www.sealionllc.com<\/div>\n
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The Aussie has acquired some notoriety over the years the as the world’s leading commodity currency.\u00a0 Australia as a nation is digging up its minerals and shipping them to China and in return enjoying wealth and prosperity.\u00a0 Since Australia has become so dependent on China buying these hard assets for its GDP, should Chinese demand … <\/p>\n

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