{"id":10299,"date":"2010-06-16T11:58:10","date_gmt":"2010-06-16T15:58:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10299"},"modified":"2010-06-16T11:58:10","modified_gmt":"2010-06-16T15:58:10","slug":"audusd-cools-below-monthly-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/16\/audusd-cools-below-monthly-highs\/","title":{"rendered":"AUD\/USD Cools Below Monthly Highs"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie is settling below monthly highs after yesterday\u2019s bounce wasn\u2019t able to carry through 6\/14 levels.\u00a0 Although the Aussie still faces considerable downward pressure, the risk trade as a whole has newfound upward momentum with investors dipping back into the risk pool on oversold conditions.\u00a0 Although EU news wires were relatively quiet last week, rumors have spread that the IMF and U.S. Treasury are working on a $350 billion line of liquidity for Spain.\u00a0 Therefore, investors should keep an eye out for any further developments since Spain carries much more weight in the EU than Greece.\u00a0 However, we should keep in mind that rumors are only rumors until confirmed.\u00a0 More importantly for the Aussie, the U.S. is putting more pressure on China to appreciate the Yuan since this month\u2019s trade balance revealed an encouraging improvement in demand for Chinese exports.\u00a0 Stories have been popping up in the China Daily that the government could make a move on the currency in the next two weeks.\u00a0 Should China appreciate, this could slow China\u2019s economic growth and deliver a near-term blow to the Aussie.\u00a0 Therefore, investors should stay on their toes since.\u00a0 Australia will be silent on the data wire again tomorrow, meaning the currency will be in the hands of any psychological forces along with key U.S. data on deck.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of 6\/14 and 5\/18 highs.\u00a0 As for the downside, the Aussie has supports in the form of uptrend lines running from May lows along with 6\/11 lows and the psychological .85 and .84 levels.<\/p>\n

Price: .8615
\nResistances:\u00a0 .8617, .8637, .8664, .8690, .8713, .8738, .8770
\nSupports:\u00a0 .8587, .8565, .8543, .8523, .8500, .8469, .8455, .8435
\nPsychological:\u00a0 .85<\/p>\n

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

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

Market Commentary<\/strong><\/em> provided by Fast Brokers.<\/a><\/strong><\/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 is settling below monthly highs after yesterday\u2019s bounce wasn\u2019t able to carry through 6\/14 levels.\u00a0 Although the Aussie still faces considerable downward pressure, the risk trade as a whole has newfound upward momentum with investors dipping back into the risk pool on oversold conditions.\u00a0 Although EU news wires were … <\/p>\n

Continue reading “AUD\/USD Cools Below Monthly Highs”<\/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-10299","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10299","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=10299"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10299\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}