{"id":14241,"date":"2010-10-20T10:00:53","date_gmt":"2010-10-20T14:00:53","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14241"},"modified":"2010-10-20T10:00:53","modified_gmt":"2010-10-20T14:00:53","slug":"audusd-moves-closer-to-parity","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/20\/audusd-moves-closer-to-parity\/","title":{"rendered":"AUD\/USD Moves Closer to Parity"},"content":{"rendered":"<p><strong>By Rita Ruvinski<\/strong> &#8211; The  AUD\/USD made a sharp fall after the Chinese central bank announced a  rate hike. Despite \u200ethe Australian positive data released earlier, the  news from China had a negative impact on \u200ethe pair. Although the pair is  now supported in its lower levels, our technical analysis shows it  \u200ecould be just a temporary retracement and AUD\/USD parity is sure in  sight. \u200e<\/p>\n<p>After the pair fell from around 0.9900 to around 0.9650 on the  Chinese move, it now bounced \u200eback above 0.9700. This line, 0.9650,  served as a resistance line when the Aussie was climbing \u200ehigher, and  now worked as strong support after other lines collapsed.\u200e<\/p>\n<p>We will be looking at the daily chart for AUD\/USD. The technical  indicators being used are the \u200eBollinger Bands, MACD and Relative  Strength Index (RSI).\u200e<\/p>\n<p>\u200e-\u200e\tThe RSI, while not quite in the oversold region yet, is pointing  downward and is \u200eapproaching the lower support line. Should the  indicator move below the 30 level, \u200etraders can take this as a sign that  the pair may see a bullish correction.\u200e<br \/>\n\u200e-\u200e\tThe MACD is positive and above its signal line. The configuration is bullish. \u200e<br \/>\n\u200e-\u200e\tThe Bollinger Bands are tightening which confirms the bullish volatility in the pair.\u200e<br \/>\n\u200e-\u200e\tAlthough the upward potential is likely to be limited by the  resistance at 0.9800 once \u200ethe pair breaches, its traders can expect a  further upside with 0.9840 and 0.9915 in \u200esight.\u200e<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/aussie.dollar3.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/aussie.dollar3.JPG\" alt=\"\" width=\"416\" height=\"689\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                              may     not    be          suitable         for         all                        investors.             There          is    a                                           possibility                  that                       you          could                      sustain a     loss             of    all         of            your                                       investment    and                                  therefore    you                         should       not                    invest                  money        that         you                           cannot                afford to                        lose.     You                       should         be              aware          of                all          the           risks                              associated            with                 Foreign                    Exchange                          trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The AUD\/USD made a sharp fall after the Chinese central bank announced a rate hike. Despite \u200ethe Australian positive data released earlier, the news from China had a negative impact on \u200ethe pair. Although the pair is now supported in its lower levels, our technical analysis shows it \u200ecould be just a temporary retracement and AUD\/USD parity is sure in sight. \u200e<\/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-14241","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14241","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=14241"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14241\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}