{"id":10486,"date":"2010-06-23T10:43:07","date_gmt":"2010-06-23T14:43:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10486"},"modified":"2010-06-23T10:43:07","modified_gmt":"2010-06-23T14:43:07","slug":"audusd-consolidates-around-87","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/audusd-consolidates-around-87\/","title":{"rendered":"AUD\/USD Consolidates Around .87"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The Aussie is bouncing off Tuesday lows as Cable and EUR\/USD trend higher.\u00a0 The risk as a whole continues to climb higher as major dollar pairs lock into their respective near-term uptrends.\u00a0 The Aussie is no different, hanging above .87 after going through a series of profit-taking.\u00a0 Australia has been silent on both the data and news wires this week, leaving the currency pair in the hands of psychological events in the West along with movements in the Yuan.\u00a0 That being said, the news wire will heat up again later today as the BoE releases its monetary policy meeting minutes followed by the Fed\u2019s monthly monetary policy meeting.\u00a0 Although the risk trade is posting an impressive recovery from June lows, longer-term negative forces are still waiting in the wings and it remains to be seen whether we are in the midst of a short-lived bounce or a more lasting recovery.\u00a0 Meanwhile, focus will square on the U.S. since Australia will be quiet on the data wire for the remainder of the week.\u00a0 Hence, psychological forces will be at the steering wheel, meaning news wires should be monitored around the globe.\u00a0 The U.S. will print new home sales today, followed by weekly unemployment claims and durable goods orders tomorrow.<\/p>\n<p>Technically speaking, the Aussie faces technical barriers in the form 6\/21 and 6\/22 highs.\u00a0 Additionally, the highly psychological .90 level should serve as a solid barrier should it be tested.\u00a0 As for the downside, the Aussie is accumulating uptrend lines along with intraday and 6\/18 lows.\u00a0 Furthermore, the psychological .85 level should serve as a solid technical cushion should it be reached.<\/p>\n<p>Price: .8721<br \/>\nResistances:\u00a0 .8738, .8764, .8799, .8831, 8859, .8890, .8919<br \/>\nSupports:\u00a0 .8689, .8671, .8587, .8565, .8543, .8523, .8500<br \/>\nPsychological:\u00a0 .90, .85<\/p>\n<p><a href=\"http:\/\/www.fastbrokers.com\/commentary\/image\/June23Aussie.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.fastbrokers.com\/commentary\/image\/June23Aussie.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 <strong><a href=\"http:\/\/fastbrokers.com\/index.php?9f9043f9\" target=\"_blank\">Fast                                         Brokers.<\/a><\/strong><\/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 Aussie is bouncing off Tuesday lows as Cable and EUR\/USD trend higher.\u00a0 The risk as a whole continues to climb higher as major dollar pairs lock into their respective near-term uptrends.\u00a0 The Aussie is no different, hanging above .87 after going through a series of profit-taking.\u00a0 Australia has been silent &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/audusd-consolidates-around-87\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AUD\/USD Consolidates Around .87&#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-10486","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10486","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=10486"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10486\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}