{"id":6423,"date":"2010-02-01T11:56:04","date_gmt":"2010-02-01T16:56:04","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6423"},"modified":"2010-02-01T11:56:04","modified_gmt":"2010-02-01T16:56:04","slug":"audusd-fights-to-stabilize-with-the-rba-on-deck","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/01\/audusd-fights-to-stabilize-with-the-rba-on-deck\/","title":{"rendered":"AUD\/USD Fights to Stabilize with the RBA on Deck"},"content":{"rendered":"

By Fast Brokers<\/strong> – The AUD\/USD is staging a rally from intraday lows after continuing its decline in reaction to slightly weaker than expected Manufacturing PMI data from China.\u00a0 Weakness in China implies a decline in demand for Australia\u2019s commodities, a negative development for the Aussie.\u00a0 However, the Dollar is depreciating across the board and gold is firming as investors await America\u2019s Manufacturing PMI data.\u00a0 It seems the Dollar is falling victim to overbought conditions right now and the AUD\/USD is benefitting.\u00a0 However, more fundamental data from the U.S. could illicit further volatility, particularly if the number prints above analyst expectations.\u00a0 Friday\u2019s strong U.S. data set yielded a broad-based rally in the Dollar and it wouldn\u2019t be surprising to see this happen again considering uncertainty surrounding China, the EU and U.K.\u00a0 However, attention will then shift to Australia with the RBA making its monetary policy decision during tomorrow\u2019s Asia trading session.\u00a0 Although a majority of analysts still expect a 25 point hike, recent liquidity tightening in China coupled with weak Australia PPI data may lead the RBA to pause its rate hikes as markets determine how China\u2019s more hawkish monetary policy impacts markets.\u00a0 Furthermore, recent uncertainty regarding Greece\u2019s outstanding debt may also entice the RBA to take a wait-and-see approach.\u00a0 That being said, tomorrow\u2019s RBA decision could have a considerable impact on the AUD\/USD due to rising investor uncertainty.\u00a0 Furthermore, investors will also receive Pending Home Sales during tomorrow\u2019s U.S. trading session followed by Australia\u2019s Trade Balance on Wednesday.\u00a0 Hence, the AUD\/USD could remain active for the next 48 hours.<\/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, December 2009 lows could serve as a technical cushion should they be reached.\u00a0 As for the topside, the AUD\/USD faces multiple downtrend lines along with 12\/24, 12\/28 and 1\/29 highs serving as technical barriers.\u00a0 Furthermore, the .9000 area could serve as a psychological force should it be reached.<\/p>\n

Price: .8848<\/p>\n

Resistances:\u00a0\u00a0 .8851, .8863, .8870, .8887, .8907, .8923<\/p>\n

Supports: .8822, .8810, .8796, .8779, .8765<\/p>\n

Psychological: .90, January highs and December 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 staging a rally from intraday lows after continuing its decline in reaction to slightly weaker than expected Manufacturing PMI data from China.\u00a0 Weakness in China implies a decline in demand for Australia\u2019s commodities, a negative development for the Aussie.\u00a0 However, the Dollar is depreciating across the board and … <\/p>\n

Continue reading “AUD\/USD Fights to Stabilize with the RBA on Deck”<\/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-6423","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6423","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=6423"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6423\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}