{"id":6393,"date":"2010-01-29T13:41:53","date_gmt":"2010-01-29T18:41:53","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6393"},"modified":"2010-01-29T13:41:53","modified_gmt":"2010-01-29T18:41:53","slug":"audusd-sinks-back-to-89-amid-broad-dollar-strength","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/29\/audusd-sinks-back-to-89-amid-broad-dollar-strength\/","title":{"rendered":"AUD\/USD Sinks Back to .89 Amid Broad Dollar Strength"},"content":{"rendered":"

By Fast Brokers <\/strong>– The AUD\/USD is heading lower amid high volatility as the Dollar strengthens across the board after a better than expected U.S. economic data set.\u00a0 U.S. Advance GDP, Chicago PMI, and UoM Consumer Sentiment data all impressed and a Dollar buying spree has ensued as investors choose the U.S. economy as a safe harbor amid global economic uncertainty.\u00a0 Meanwhile, gold is heading lower towards its psychological $1075\/oz with investors debating where to send the Greenback.\u00a0 Volatility has been at a heightened level thus far and it will be interesting to see where the Dollar ends up at the end of the day.\u00a0 Thus far the Dollar is beating out higher risk currencies and it seems this trend may continue as the trading week draws to a close.\u00a0 Meanwhile, the AUD\/USD is having a tough time leaving behind .8900 level and is finding support in our present 1st tier uptrend line.\u00a0 Our current uptrend lines run through April 2009 levels, or the .70 area, marking the importance of present supports.\u00a0 The Aussie should remain active as next week kicks off.\u00a0 China will begin the trading week by releasing Manufacturing PMI data.\u00a0 We\u2019ve witnessed the influence China\u2019s more hawkish monetary policy had on the Aussie this week.\u00a0 Therefore, we expect the currency to react to Monday\u2019s key data release as well.\u00a0 Australia will also begin the trading week with some data releases, including New Home Sales, HPI, and Quarterly Business Confidence.\u00a0 Furthermore, the RBA will make its monetary policy decision during Tuesday\u2019s Asia trading session.\u00a0 Hence, the AUD\/USD appears to have a busy week ahead of itself.<\/p>\n

Technically speaking, the AUD\/USD is currently fighting to stay above our 1st tier uptrend line with multiple uptrend lines hanging below.\u00a0 Additionally, previous January lows and the psychological .8900 level could continue to serve as technical cushions for the time being.\u00a0 As for the topside, the AUD\/USD faces multiple downtrend lines along with 1\/28 and 1\/26 highs serving as technical barriers.\u00a0 Furthermore, the .9000 area could serve as a psychological force should it be reached.<\/p>\n

Price: .8900<\/p>\n

Resistances:\u00a0\u00a0 .8901, .8912, .8933, .8949, .8959, .8984<\/p>\n

Supports: .8884, .8870, .8857, .8842, .8822, .8812<\/p>\n

Psychological: .90, 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 heading lower amid high volatility as the Dollar strengthens across the board after a better than expected U.S. economic data set.\u00a0 U.S. Advance GDP, Chicago PMI, and UoM Consumer Sentiment data all impressed and a Dollar buying spree has ensued as investors choose the U.S. economy as a … <\/p>\n

Continue reading “AUD\/USD Sinks Back to .89 Amid Broad Dollar Strength”<\/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-6393","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6393","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=6393"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6393\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}