{"id":6660,"date":"2010-02-08T13:35:30","date_gmt":"2010-02-08T18:35:30","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6660"},"modified":"2010-02-08T13:35:30","modified_gmt":"2010-02-08T18:35:30","slug":"audusd-stabilizes-as-fx-markets-cool","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/08\/audusd-stabilizes-as-fx-markets-cool\/","title":{"rendered":"AUD\/USD Stabilizes as FX Markets Cool"},"content":{"rendered":"

By Fast Brokers <\/strong>– The AUD\/USD is stabilizing above its psychological .85 level and our uptrend lines as the risk trade stabilizes across the marketplace.\u00a0 A weekend of rest coupled Trichet\u2019s reassurances the ECB and EU have Greece\u2019s debt issue under control has allowed the Dollar to ease off of last week\u2019s highs following its incredible rally.\u00a0 However, downward forces remain considering the extent of last week\u2019s pullback and the risk trade will likely need several fundamental and psychological developments to break free of its downturn.\u00a0 The data wire will be relatively quiet over the next couple trading sessions, giving the risk trade an opportunity to consolidate as investors assess the damage.\u00a0 However, investors should keep a sharp eye on the news wire concerning developments in the EU since debt scares in Greece and Portugal were the driving force behind last week\u2019s surge in the Dollar.\u00a0 Australia will bring economic fundamentals back into focus on Wednesday with the release of Home Loans data.\u00a0 This data release could have a noticeable impact on the Aussie should the results stray from estimates.\u00a0 The RBA\u2019s decision to halt its rate hikes and a setback in Australia\u2019s Retail Sales has created a bit of uncertainty.\u00a0 Therefore, investors will be honing in on Wednesday\u2019s release to get a better idea of how Australia\u2019s economy is faring.\u00a0 Furthermore, China will be releasing New Loans and Trade Balance data.\u00a0 Hence, volatility could pick up towards the middle of the week.<\/p>\n

Technically speaking, the AUD\/USD has multiple downtrend lines serving as technical barriers along with the psychological .87 area.\u00a0 As for the downside, the AUD\/USD has multiple uptrend lines serving as technical cushions along with 2\/5 and 2\/4 lows.\u00a0 Furthermore, the psychological .85 area could serve as a technical cushion should it be tested.<\/p>\n

Price: .8681<\/p>\n

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

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

Psychological: .85, .87, February highs and 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 AUD\/USD is stabilizing above its psychological .85 level and our uptrend lines as the risk trade stabilizes across the marketplace.\u00a0 A weekend of rest coupled Trichet\u2019s reassurances the ECB and EU have Greece\u2019s debt issue under control has allowed the Dollar to ease off of last week\u2019s highs following its … <\/p>\n

Continue reading “AUD\/USD Stabilizes as FX Markets Cool”<\/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-6660","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6660","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=6660"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6660\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}