{"id":6972,"date":"2010-02-19T11:07:14","date_gmt":"2010-02-19T16:07:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6972"},"modified":"2010-02-19T11:07:14","modified_gmt":"2010-02-19T16:07:14","slug":"audusd-bounces-off-89","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/19\/audusd-bounces-off-89\/","title":{"rendered":"AUD\/USD Bounces Off .89"},"content":{"rendered":"

By Fast Brokers <\/strong>– The AUD\/USD has recovered from yesterday\u2019s pullback by bouncing off our 2nd tier uptrend line and the psychological .89 level.\u00a0 The Dollar experienced another large broad-based rally as investors remained concerned about EU debt.\u00a0 Furthermore, the Fed shocked markets after hours by announcing it is raising the discount rate by 25 basis points.\u00a0 Hence, the Fed is sending a message that the emergency window is shutting and possibly serves as the first move for the central bank\u2019s exit strategy.\u00a0 Investors bought up the Dollar in reaction and the Aussie participated, though to a lesser extent.\u00a0 The AUD\/USD remains the strongest out of most major Dollar pairs since the RBA has the tightest monetary stance among developed nations.\u00a0 The possibility of another rate hike from the RBA should economic fundamentals improve has created a relative strength for the Aussie as uncertainty increases in the EU and UK.\u00a0 However, should conditions in the EU, UK and U.S. deteriorate while China tightens the RBA may be discouraged again from tightening itself.\u00a0 Therefore, investors should keep an eye on global econ data as it rolls in.\u00a0 Speaking of which, although Australia will be relatively quiet on the data wire next week, investors will continue to receive key data points from the U.S. and Europe.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday 2\/15, and 2\/12 lows.\u00a0 As for the topside, the Aussie has multiple downtrend line serving as technical barriers along with the highly psychological .90 level.\u00a0 Furthermore, 1\/28 and 2\/17 highs could serve as technical obstacles should they be reached.<\/p>\n

Price: .8935<\/p>\n

Resistances:\u00a0\u00a0 .8949, .8964, .8984, .9005, .9026, .9045<\/p>\n

Supports: .8917, .8903, .8884, .8859, .8842, .8823<\/p>\n

Psychological: .90, .89<\/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 has recovered from yesterday\u2019s pullback by bouncing off our 2nd tier uptrend line and the psychological .89 level.\u00a0 The Dollar experienced another large broad-based rally as investors remained concerned about EU debt.\u00a0 Furthermore, the Fed shocked markets after hours by announcing it is raising the discount rate by 25 … <\/p>\n

Continue reading “AUD\/USD Bounces Off .89”<\/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-6972","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6972","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=6972"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}