{"id":7326,"date":"2010-03-04T12:51:25","date_gmt":"2010-03-04T17:51:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7326"},"modified":"2010-03-04T12:51:25","modified_gmt":"2010-03-04T17:51:25","slug":"audusd-stays-range-bound-around-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/04\/audusd-stays-range-bound-around-90\/","title":{"rendered":"AUD\/USD Stays Range-Bound Around 90"},"content":{"rendered":"

The Aussie is fluctuating within a solid trading range right now as the currency pair battles its psychological .90 level again.\u00a0 The AUD\/USD did peak past our 2nd tier downtrend line yesterday, a key movement since it runs through 1\/20 highs, or the .92 area.\u00a0 Hence, the Aussie could be on the verge of a sizable topside breakout should fundamental and \"\"<\/a>psychological factors work in the currency pair\u2019s favor.\u00a0 Meanwhile, the Aussie is still outperforming and has been a bed rock of consistency due to a tight stance from the RBA and encouraging Australia data sets.\u00a0 Speaking of which, Australia\u2019s Trade Balance revealed a smaller than anticipated deficit, signaling demand for the country\u2019s commodities is still strong.\u00a0 Additionally, Australia\u2019s GDP printed in line with analyst expectations earlier this week.\u00a0 Therefore, the RBA has fundamentals backing its hawkish monetary policy.\u00a0 The Aussie is struggling a bit today though as the risk trade reacts badly to a poor U.S. Pending Home Sales figure.\u00a0 However, the damage hasn\u2019t been significant at this point in time.\u00a0 The U.S. will also release Non-Farm Employment Change and headline Unemployment Rate numbers tomorrow, meaning volatility could pick up in the major Dollar pairs as the trading week comes to a close.\u00a0 Additionally, investors should keep an eye out for any developments in the EU since there will be a highly publicized meeting between Greece and Germany tomorrow.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 3\/2, and 3\/1lows.\u00a0 As for the topside, the Aussie has multiple downtrend lines serving as technical barriers along with March highs and the highly psychological .90 level.<\/p>\n

Price: .9012<\/p>\n

Resistances: .9011, .9025, .9041, .9057, .9074, .9090<\/p>\n

Supports: .8993, .8981, .8965, .8950, .893, .8923<\/p>\n

Psychological: .90, March 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 fluctuating within a solid trading range right now as the currency pair battles its psychological .90 level again.\u00a0 The AUD\/USD did peak past our 2nd tier downtrend line yesterday, a key movement since it runs through 1\/20 highs, or the .92 area.\u00a0 Hence, the Aussie could be on the verge of a … <\/p>\n

Continue reading “AUD\/USD Stays Range-Bound Around 90”<\/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-7326","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7326","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=7326"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7326\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}