{"id":10030,"date":"2010-06-07T11:50:28","date_gmt":"2010-06-07T15:50:28","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10030"},"modified":"2010-06-07T11:50:28","modified_gmt":"2010-06-07T15:50:28","slug":"audusd-tumbles-below-previous-june-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/07\/audusd-tumbles-below-previous-june-lows\/","title":{"rendered":"AUD\/USD Tumbles Below Previous June Lows"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie got hit hard as the EUR\/USD sank below 1.20 in the wake of news that Hungary\u2019s fiscal deficit is actually much larger than reported by the previous government.\u00a0 Additionally, U.S. employment data disappointed analysts due to limited private sector hiring.\u00a0 Aussie investors have already been concerned about the impact on demand for commodities amid a possible slowdown in China, so more weakness in the EU and U.S. only adds to the downward pressure.\u00a0 However, the Aussie does still have May lows in place with key data on the way.\u00a0 We\u2019ve got job advertisements on Monday followed by home loans data on Wednesday.\u00a0 Although Australia\u2019s data has been negatively mixed, should we get some solid data this week this could help keep the Aussie above May lows.\u00a0 If not, then the Aussie\u2019s downtrend may come back into play.\u00a0 Additionally, investors should consider negative headwinds blowing from the EU and now the U.S.\u00a0 The Aussie\u2019s positive correlation with the risk trade is clear and the fate of the Euro could drive the Aussie as well.\u00a0 Lastly, investors should keep an eye out for any news emanating from China regarding the government\u2019s real estate policy.\u00a0 Furthermore, it will be important for the Shanghai Composite to hold 2500.\u00a0 Developments in China have a direct influence on Australia, so the Shanghai Composites downfall is weighing on the Aussie.<\/p>\n

Technically speaking, the Aussie still faces multiple downtrend lines along with 5\/28 highs.\u00a0 As for the downside, the Aussie has technical cushions in the form of 5\/25 lows.\u00a0 Additionally, the psychological .82 and .81 areas could serve as a solid technical cushion should they be tested.<\/p>\n

Price: .8219
\nResistances:\u00a0 .8266, .8308, .8330, .8344, .8360, .8379, .8396
\nSupports:\u00a0 .8199, .8181, .8151, .8127, .8087, .8066, .8050
\nPsychological:\u00a0 .83,.80, May lows and June highs<\/p>\n

\"\"<\/a><\/p>\n

(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regarded neither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – The Aussie got hit hard as the EUR\/USD sank below 1.20 in the wake of news that Hungary\u2019s fiscal deficit is actually much larger than reported by the previous government.\u00a0 Additionally, U.S. employment data disappointed analysts due to limited private sector hiring.\u00a0 Aussie investors have already been concerned about the impact … <\/p>\n

Continue reading “AUD\/USD Tumbles Below Previous June Lows”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10030","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10030"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10030\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}