{"id":7125,"date":"2010-02-25T12:44:34","date_gmt":"2010-02-25T17:44:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7125"},"modified":"2010-02-25T12:44:34","modified_gmt":"2010-02-25T17:44:34","slug":"audusd-test-88-amid-risk-aversion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/25\/audusd-test-88-amid-risk-aversion\/","title":{"rendered":"AUD\/USD Test .88 Amid Risk Aversion"},"content":{"rendered":"

The Aussie is logging sizable gains today as the risk trade sells off across the board.\u00a0 The Cable, EUR\/USD, and USD\/JPY are all heading south amid fresh uncertainty in Greece.\u00a0 Although Australia\u2019s CapEx data came in stronger than expected today, instability in the EU makes a rate hike by the RBA next week less certain.\u00a0 Investors should recall that \"\"<\/a>Stevens cited insecurity in the EU as an influential factor guiding the RBA\u2019s decision to halt its rate hikes at the last meeting.\u00a0 Hence, should problems in the EU heat up over the next few sessions then the RBA could decide to hold off on a rate hike once again.\u00a0 However, Australia\u2019s economic data has been rather strong lately, meaning the RBA does have fundamental reasons to raise when the decision making process comes around.\u00a0 Meanwhile, although Australia will release Private Sector Credit data tomorrow, focus will likely be on the UK and U.S. with the release of Revised GDP and Prelim GDP, respectively.\u00a0 Additionally, investors should continue to monitor news headlines regarding debt issues in Greece, for further uncertainty could create more volatility in the risk trade across the board.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday and 2\/12 lows.\u00a0 Speaking of 2\/12 lows, investors should eye our 3rd tier uptrend line since it runs through these levels.\u00a0 Hence, a failure of our 3rd tier uptrend line could yield a retest of the .8780 area over the near-term.\u00a0 As for the topside, the Aussie has multiple downtrend lines serving as technical barriers along with the highly psychological .90 level should it be tested.<\/p>\n

Price: .8824<\/p>\n

Resistances: .8830, .8845, .8863, .8875, .8885, .8903<\/p>\n

Supports: .8809, .8798, .8781, .8765, .8745, .8734<\/p>\n

Psychological: .90, February highs and lows<\/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":"

The Aussie is logging sizable gains today as the risk trade sells off across the board.\u00a0 The Cable, EUR\/USD, and USD\/JPY are all heading south amid fresh uncertainty in Greece.\u00a0 Although Australia\u2019s CapEx data came in stronger than expected today, instability in the EU makes a rate hike by the RBA next week less certain.\u00a0 … <\/p>\n

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