{"id":10058,"date":"2010-06-08T08:40:45","date_gmt":"2010-06-08T12:40:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10058"},"modified":"2010-06-08T08:40:45","modified_gmt":"2010-06-08T12:40:45","slug":"audusd-struggles-to-stay-above-may-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/08\/audusd-struggles-to-stay-above-may-lows\/","title":{"rendered":"AUD\/USD Struggles to Stay Above May Lows"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The AUD\/USD is struggling to stay above May lows as the currency pair deals with worries in China along with concern that the RBA will remain in a neutral stance for quite some time.\u00a0 Australia\u2019s economic data hasn\u2019t been strong to the point where the RBA would require another 25 bp hike.\u00a0 Meanwhile, conditions in the EU are still very unstable and as the EUR\/USD deteriorates the Aussie follows suit since the RBA has openly deliberated the impact of a slowdown in the EU on Australia\u2019s growth. Though Australia is quiet on the data wire today, it will lead the pack tomorrow with the release of home loans data.\u00a0 Should home loans exceed analyst estimates this could help prop up the Aussie should May lows hold over the next 24 hours.\u00a0 Meanwhile, EU finance ministers are meeting to discuss recent developments in the union.\u00a0 Hence, investors should keep a close eye on the EU news wires over the next 24-48 hours.\u00a0 Additionally, investors should monitor the SCI\u2019s ability to hold 2500 since weakness in Chinese equities tend to weigh on the Aussie.<\/p>\n<p>Technically speaking, the Aussie still faces multiple downtrend lines along with 5\/24 and 6\/3 highs.\u00a0 As for the downside, the Aussie has technical cushions in the form of 5\/25 lows and the highly psychological .80 level.<\/p>\n<p>Price: .8179<br \/>\nResistances:\u00a0 .8197, .8234, .8266, .8305, .8330, .8360, .8379<br \/>\nSupports:\u00a0 .8151, .8127, .8087, .8066, .8035, .8013, .7985<br \/>\nPsychological:\u00a0 .82,.80, May lows and June highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/June8Aussie.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/June8Aussie.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast                                  Brokers<\/strong>.<\/a><\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; The AUD\/USD is struggling to stay above May lows as the currency pair deals with worries in China along with concern that the RBA will remain in a neutral stance for quite some time.\u00a0 Australia\u2019s economic data hasn\u2019t been strong to the point where the RBA would require another 25 bp &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/08\/audusd-struggles-to-stay-above-may-lows\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AUD\/USD Struggles to Stay Above May Lows&#8221;<\/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-10058","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10058","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=10058"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}