{"id":7219,"date":"2010-03-01T12:53:29","date_gmt":"2010-03-01T17:53:29","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7219"},"modified":"2010-03-01T12:53:29","modified_gmt":"2010-03-01T17:53:29","slug":"audusd-tests-90-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/01\/audusd-tests-90-2\/","title":{"rendered":"AUD\/USD Tests .90"},"content":{"rendered":"

The Aussie tested the psychological .90 level again, but to no avail.\u00a0 However, the currency pair is holding up relatively well considering the large selloffs taking place in the EUR\/USD and Cable.\u00a0 Investors are on the fence in regards to whether the RBA will raise rates following tomorrow\u2019s monetary policy meeting.\u00a0 However, considering uncertainty in the EU hasn\u2019t died down, and uncertainty in the UK is just flaying up, it wouldn\u2019t be surprising if the RBA opts to \"\"<\/a>maintain a neutral policy stance once again.\u00a0 On the other hand, should the RBA surprise by raising or lowering its benchmark rate, the AUD\/USD could experience sizable gains or losses, respectfully.\u00a0 Meanwhile, debt issues in Greece and now worries in the UK are certainty developments to be concerned about.\u00a0 Further deterioration of these currencies could eventually drag the Aussie lower should the global economy feel the weight of the impact.\u00a0 Today\u2019s Chinese Manufacturing PMI data printed lighter than anticipated.\u00a0 Should China continue to press on the breaks and cool its economy, this could also place downward pressure in the AUD\/USD due to lower anticipated demand for Australia\u2019s commodities.\u00a0 However, near-term focus will likely be on the RBA tomorrow\u2019s along with Australian Building Approvals and Retail Sales data.\u00a0 The UK and EU will release their own data sets tomorrow as well, not to mention Australia\u2019s GDP figure due Wednesday.\u00a0 Hence, activity could pick up in the AUD\/USD over the next 24-48 hours.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 2\/23, and 2\/25 lows.\u00a0 As for the topside, the Aussie has multiple downtrend lines serving as technical barriers along with February highs and the highly psychological .90 level should it be retested.<\/p>\n

Price: .8963<\/p>\n

Resistances: .8981, .8993, .9011, .9024, .9041, .9062<\/p>\n

Supports: .8957, .8944, .8930, .8916, .8901, .8886<\/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 tested the psychological .90 level again, but to no avail.\u00a0 However, the currency pair is holding up relatively well considering the large selloffs taking place in the EUR\/USD and Cable.\u00a0 Investors are on the fence in regards to whether the RBA will raise rates following tomorrow\u2019s monetary policy meeting.\u00a0 However, considering uncertainty in … <\/p>\n

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