{"id":6552,"date":"2010-02-04T13:15:00","date_gmt":"2010-02-04T18:15:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6552"},"modified":"2010-02-04T13:15:00","modified_gmt":"2010-02-04T18:15:00","slug":"audusd-drops-like-a-rock-as-dollar-surges","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/04\/audusd-drops-like-a-rock-as-dollar-surges\/","title":{"rendered":"AUD\/USD Drops Like A Rock as Dollar Surges"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Dollar is skyrocketing across the board as the Yen begins to crash as well, signaling investors are making a run for safety.\u00a0 The AUD\/USD is participating fully as investors still have a sour taste in their mouths following the RBA\u2019s decision to halt its rate hike.\u00a0 The ECB and BoE followed suit by taking a neutral wait and see approach.\u00a0 Meanwhile, Australia\u2019s Retail Sales data disappointed estimates and Building Approvals outperformed, setting a mixed tone for Australia\u2019s economy.\u00a0 Additionally, America\u2019s data set disappointed this morning with a pop in Unemployment Claims, productivity, and earnings.\u00a0 Hence, economic fundamentals were altogether negative today, adding downward pressure on the AUD\/USD and other major Dollar pairs.\u00a0 The scale truly tipped after the IMF issued a warning concerning Portugal\u2019s deteriorating fiscal situation.\u00a0 Now the EU must take fire for debt troubles in two member countries, adding to already rising investor uncertainty.\u00a0 All of the events listed above proved a lethal combination for the risk trade, resulting in a huge leg down in the AUD\/USD.\u00a0 The currency pair has tumbled below December 2009 lows and is currently fluctuating within September 2009\u2019s trading range.\u00a0 The RBA will deliver its monetary policy statement during tomorrow\u2019s Asia trading session, likely yielding further volatility for the AUD\/USD.\u00a0 The U.S. will also release its headline Unemployment Rate along with Non-Farm Employment Change data.\u00a0 Hence, the FX markets should remain very active as the trading week comes to a close.<\/p>\n

Technically speaking, we\u2019ve had to manufacture some new uptrend lines with run through April 2009 levels, or the .70 area.\u00a0 Hence, this gives investors an idea in regards to the extent of the AUD\/USD\u2019s recent deterioration.\u00a0 As for the topside, the AUD\/USD faces multiple downtrend lines along with September 2009 highs.<\/p>\n

Price: .8676<\/p>\n

Resistances:\u00a0\u00a0 .8692, .8711, .8729, .8749, .8763, .8780<\/p>\n

Supports: .8662, .8647, .8627, .8607, .8587, .8562<\/p>\n

Psychological: .90, January highs and December lows<\/p>\n

\"\"<\/a><\/p>\n

(click chart to enlarge)<\/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 Dollar is skyrocketing across the board as the Yen begins to crash as well, signaling investors are making a run for safety.\u00a0 The AUD\/USD is participating fully as investors still have a sour taste in their mouths following the RBA\u2019s decision to halt its rate hike.\u00a0 The ECB and BoE … <\/p>\n

Continue reading “AUD\/USD Drops Like A Rock as Dollar Surges”<\/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-6552","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6552","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=6552"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6552\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}