{"id":6756,"date":"2010-02-11T12:16:20","date_gmt":"2010-02-11T17:16:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6756"},"modified":"2010-02-11T12:16:20","modified_gmt":"2010-02-11T17:16:20","slug":"audusd-surges-following-impressive-employment-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/11\/audusd-surges-following-impressive-employment-data\/","title":{"rendered":"AUD\/USD Surges Following Impressive Employment Data"},"content":{"rendered":"

By Fast Brokers <\/strong>– The Aussie surged during the Asia trading session after Australia\u2019s Employment change number printed over 3 times stronger than analyst expectations and the headline Unemployment Rate sank to 5.5%.\u00a0 The encouraging improvement in Australian Unemployment sent the Aussie surging higher as investors speculated that the RBA will keep its monetary policy tight in the anticipation of higher consumption and consumer prices.\u00a0 Meanwhile, China\u2019s CPI printed weaker than anticipated even though new loans surged.\u00a0 Hence, it seems China can leave its liquidity relatively loose since prices are under control, appositive development for Australia and anticipated demand for its commodities.\u00a0 However, the Aussie is trading off of intraday highs as the Dollar appreciates across the board in reaction to the EU Summit and a decline in U.S. weekly Unemployment Claims.\u00a0 The EU announced that it plans to help Greece deal with its troubling fiscal situation, yet provided few details.\u00a0 Investors are reacting negatively to the lack of clarity, sending the Euro tumbling lower.\u00a0 Additionally, an improvement in U.S. employment is a positive for the Dollar since the Fed has implied that it is waiting for a turnaround in unemployment before tightening liquidity.\u00a0 Meanwhile, volatility could pick up tomorrow with the release of Germany\u2019s Prelim GDP followed by U.S. retail sales and consumer confidence data.\u00a0 Hence, investors should keep a sharp eye on broad-based activity in the Dollar and gold since Australia will be quiet on the data front tomorrow.\u00a0 That being said, the Aussie could maintain a positive bias considering today\u2019s impressive employment data.<\/p>\n

Technically speaking, we\u2019ve readjusted our trend lines to compensate for today\u2019s leg up.\u00a0 To the topside the Aussie faces multiple downtrend lines along with 2\/3, 2\/1, and 1\/28 highs.\u00a0 Additionally, the psychological .89 and .90 levels could serve as technical barriers should they be tested.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with 2\/2 and 2\/10 lows.<\/p>\n

Price: .8851<\/p>\n

Resistances:\u00a0\u00a0 .8869, .8885, .8901, .8921, .8935, .8956<\/p>\n

Supports: .8842, .8826, .8808, .8794, .8778, .8762<\/p>\n

Psychological: .88, .89, 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 Aussie surged during the Asia trading session after Australia\u2019s Employment change number printed over 3 times stronger than analyst expectations and the headline Unemployment Rate sank to 5.5%.\u00a0 The encouraging improvement in Australian Unemployment sent the Aussie surging higher as investors speculated that the RBA will keep its monetary policy … <\/p>\n

Continue reading “AUD\/USD Surges Following Impressive Employment Data”<\/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-6756","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6756","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=6756"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6756\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}