{"id":7018,"date":"2010-02-22T11:59:43","date_gmt":"2010-02-22T16:59:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7018"},"modified":"2010-02-22T11:59:43","modified_gmt":"2010-02-22T16:59:43","slug":"audusd-tests-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/22\/audusd-tests-90\/","title":{"rendered":"AUD\/USD Tests .90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The AUD\/USD continues to outperform and is currently challenging its highly psychological .90 level.\u00a0 The AUD\/USD has held strong despite uncertainty in the risk trade due to the RBA\u2019s relatively tight monetary policy stance as opposed to the central banks of other developed economies.\u00a0 That being said, should the Euro and Pound post a recovery the Aussie should benefit since uncertainty in the EU was a determining factor when the RBA decided to halt its rate increases at the last policy meeting.\u00a0 Positive performances in the Euro and Pound along with strong Australian economic data could propel the Aussie higher in anticipation of another rate hike.\u00a0 On the other \"\"<\/a>hand, should uncertainty in the EU return and the Aussie underperform the Aussie could lose a bit of its luster since the RBA may be inclined to continue its wait and see approach to monetary policy.\u00a0 Hence, investors should keep an eye on how the overall risk trade performs along with any new news concerning Greece and the other PIIGS nations.\u00a0 Investors will receive some key data points from the EU and U.S. along with a public address from one of the RBA\u2019s governors.\u00a0 Hence, volatility could pick up a bit as tomorrow\u2019s trading session progresses.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 2\/18, and 2\/19 lows.\u00a0 As for the topside, the Aussie has multiple downtrend line serving as technical barriers.\u00a0 However, the downtrend lines are widening, meaning a topside breakout could yield considerable near-term gains.\u00a0 Meanwhile, the .90 level could continue to have a psychological influence on the Aussie.<\/p>\n

Price: .9007<\/p>\n

Resistances:\u00a0\u00a0 .9009, .9026, .9045, .9058, .9073, .9093<\/p>\n

Supports: .8981, .8964, .8949, .8930, .8917, .8903<\/p>\n

Psychological: .90<\/p>\n

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

(click 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 continues to outperform and is currently challenging its highly psychological .90 level.\u00a0 The AUD\/USD has held strong despite uncertainty in the risk trade due to the RBA\u2019s relatively tight monetary policy stance as opposed to the central banks of other developed economies.\u00a0 That being said, should the Euro and … <\/p>\n

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