{"id":7518,"date":"2010-03-11T13:30:03","date_gmt":"2010-03-11T18:30:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7518"},"modified":"2010-03-11T13:30:03","modified_gmt":"2010-03-11T18:30:03","slug":"audusd-weakens-following-moderate-employment-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/11\/audusd-weakens-following-moderate-employment-data\/","title":{"rendered":"AUD\/USD Weakens Following Moderate Employment Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie has weakened from weekly highs and its psychological .92 level after Australia\u2019s Employment Change figure printed below analyst expectations.\u00a0 This couples with the pullback in Housing Loans data earlier this week and reveals the RBA\u2019s rate hikes are having their desired impact.\u00a0 Hence, there\u2019s a possibility the central bank could stand pat at its next meeting.\u00a0 However, China\u2019s Industrial Production did print below analyst expectations while pricing data was relatively tame despite the cautionary headlines.\u00a0 As a result, China may not be as aggressive in tightening as some analysts anticipated, meaning Australia could continue to enjoy healthy demand from Asia for its commodities.\u00a0 Meanwhile, attention will focus in on the West with the U.S. releasing key retail sales and consumer sentiment data tomorrow.\u00a0 Strong U.S. consumption data could favor the risk trade and help the Aussie move higher. The Aussie did peak above our 2nd tier downtrend line, which runs through 1\/18 highs, or the .9275 level.\u00a0 Therefore, the Aussie could have a bit more topside mobility left in the tank.\u00a0 The Aussie also has an apparently strong support structure for the time being considering its climb this month has been somewhat gradual.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 3\/9lows, and the psychological .90 area.\u00a0 As for the topside, the Aussie has multiple downtrend lines serving as technical barriers along with the psychological .92 area.\u00a0 Additionally, previous 2010 highs could serve as a hefty technical barrier should they be tested.<\/p>\n

Price: .9135<\/p>\n

Resistances: .9143, .9160, .9171, .9194, .9213, .9227<\/p>\n

Supports: .9120, .9104, .9090, .9073, .9052<\/p>\n

Psychological: .92, 2010 highs<\/p>\n

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

(click chart 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 Aussie has weakened from weekly highs and its psychological .92 level after Australia\u2019s Employment Change figure printed below analyst expectations.\u00a0 This couples with the pullback in Housing Loans data earlier this week and reveals the RBA\u2019s rate hikes are having their desired impact.\u00a0 Hence, there\u2019s a possibility the central bank … <\/p>\n

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