{"id":7573,"date":"2010-03-15T08:59:25","date_gmt":"2010-03-15T13:59:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7573"},"modified":"2010-03-15T08:59:25","modified_gmt":"2010-03-15T13:59:25","slug":"audusd-drifts-lower-as-risk-trade-pulls-back","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/15\/audusd-drifts-lower-as-risk-trade-pulls-back\/","title":{"rendered":"AUD\/USD Drifts Lower as Risk Trade Pulls Back"},"content":{"rendered":"

By Fast Brokers<\/strong> – The AUD\/USD is drifting lower today as the EUR\/USD and Cable pull back following Friday\u2019s topside breakout.\u00a0 While the Aussie\u2019s interest rate differential continues to work in the currency pair\u2019s favor, recent employment and housing related data was disappointing, meaning the RBA could hold off on another rate hike at its next policy meeting unless fundamentals take a turn for the positive soon.\u00a0 With Australia quiet on the data wire this week, investors will likely hone in on upcoming U.S. numbers and the FOMC meeting on Tuesday.\u00a0 Should the Fed make a hawkish alteration to its monetary policy statement this could place some downward pressure on the Aussie over speculation that the Fed could tighten liquidity in the near future.\u00a0 However, should the Fed maintain its loose monetary policy stance for the foreseeable future, the Aussie\u2019s upward momentum could remain intact.\u00a0 Meanwhile, investors will receive a U.S. data set, including the Empire Index, Capacity Utilization, Industrial Production, and TIC long-Term Purchases.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with 3\/11 lows, 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: .9145<\/p>\n

Resistances: .9160, .9171, .9186, .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 AUD\/USD is drifting lower today as the EUR\/USD and Cable pull back following Friday\u2019s topside breakout.\u00a0 While the Aussie\u2019s interest rate differential continues to work in the currency pair\u2019s favor, recent employment and housing related data was disappointing, meaning the RBA could hold off on another rate hike at its … <\/p>\n

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