{"id":6158,"date":"2010-01-22T14:23:30","date_gmt":"2010-01-22T19:23:30","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6158"},"modified":"2010-01-22T14:23:30","modified_gmt":"2010-01-22T19:23:30","slug":"audusd-fluctuates-above-90-amid-heightened-market-activity","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/22\/audusd-fluctuates-above-90-amid-heightened-market-activity\/","title":{"rendered":"AUD\/USD Fluctuates Above .90 Amid Heightened Market Activity"},"content":{"rendered":"

By Fast Brokers<\/strong> – The AUD\/USD is working to consolidate above its psychological .90 level as we witness heightened market activity in the Dollar and U.S. equities.\u00a0 The S&P futures and gold tumbled yesterday after U.S. Unemployment Claims popped back towards the 500k level and investor uncertainty increased over fear that Obama\u2019s proposed regulation of the financial industry could weigh on the earnings of banks.\u00a0 The ADU\/USD participated to the downside, exhibiting its positive correlation with gold as the precious metal sunk below its psychological $1100\/oz level.\u00a0 Furthermore, the Aussie has been hit by a tighter monetary policy stance in China.\u00a0 China\u2019s demand for Australia\u2019s commodities has been a driving force behind Australia\u2019s strong economic performance.\u00a0 Hence, if China cools down, this could also slow down Australia, thereby discouraging Australia\u2019s central bank from tightening once again.\u00a0 However, investors should keep in mind that Australia\u2019s economic data has been printing strong lately, particularly in employment.\u00a0 Australia will kick off next week with PPI data during Monday\u2019s Asia trading session.\u00a0 The Aussie could receive extra attention during this time frame since behavior of prices could determine whether Australia raises rates again or not.\u00a0 That being said, should PPI print strong the AUD\/USD could experience a nice pop.\u00a0 On the other hand, a weak PPI could place considerable downward pressure on the Aussie since investors may speculate that the central bank will hold off considering tightening in China.<\/p>\n

Technically speaking, the AUD\/USD faces multiple downtrend lines along with intraday and 1\/21 highs.\u00a0 As for the downside, the AUD\/USD has multiple uptrend lines serving as technical cushions along with 1\/21 lows and the psychological .90 level should it be retested.<\/p>\n

Price: .9050<\/p>\n

Resistances:\u00a0 $77.48. $77.87\/bbl, $78.33\/bbl, $78.76\/bbl, $79.25\/bbl<\/p>\n

Supports: $77.10\/bbl, $76.69\/bbl, $76.15\/bbl, $75.63\/bbl, $75.32\/bbl<\/p>\n

Psychological: $80\/bbl, $75\/bbl, January highs and lows<\/p>\n

\"\"<\/a><\/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 regardedneither 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 AUD\/USD is working to consolidate above its psychological .90 level as we witness heightened market activity in the Dollar and U.S. equities.\u00a0 The S&P futures and gold tumbled yesterday after U.S. Unemployment Claims popped back towards the 500k level and investor uncertainty increased over fear that Obama\u2019s proposed regulation of … <\/p>\n

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