{"id":7611,"date":"2010-03-16T10:05:25","date_gmt":"2010-03-16T14:05:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7611"},"modified":"2010-03-16T10:05:25","modified_gmt":"2010-03-16T14:05:25","slug":"audusd-solidifies-from-monday-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/16\/audusd-solidifies-from-monday-lows\/","title":{"rendered":"AUD\/USD Solidifies from Monday Lows"},"content":{"rendered":"

By Fast Brokers<\/strong><\/a> – The AUD\/USD has bounced from Monday lows after dipping below .91 and touching our key 2nd tier uptrend line.\u00a0 The Aussie followed the EUR\/USD and Cable lower amid a wave of risk-aversion in reaction to statements from Moody\u2019s warning developed countries with increasing debt exposure to get their fiscal houses in line or face the possibility of a credit downgrade in the future.\u00a0 Uncertainty, particularly in Europe, weighed on the Aussie as investors speculated that more debt issues could dissuade the RBA from tightening its monetary policy again.\u00a0 However, the Aussie has staged a solid rebound thus far today, finding support in our key 2nd tier uptrend line which runs through 3\/9 lows.\u00a0 The RBA issued its meeting minutes today and the notes showed the RBA is holding its monetary stance for the time being and stands ready to tighten or loosen depending on fundamental conditions.\u00a0 That being said, the RBA still seems to be leaning towards a hawkish monetary policy so long as employment and consumption continue to improve.\u00a0 However, last week\u2019s negative employment and housing reports have decreased the expectations of a rate hike at the central bank\u2019s next meeting.\u00a0 Meanwhile, focus will likely be on the U.S. with building permits data and an FOMC meeting on the way.\u00a0 Should the FOMC maintain its loose monetary language then they risk trade could receive a boost.\u00a0 On the other hand, any hawkish language alteration could have a negative impact on the Aussie in anticipation of tighter monetary policy from the Fed.<\/p>\n

Technically speaking, the Aussie has multiple uptrend lines serving as technical cushions along with intraday lows, 3\/15 lows, 3\/9 lows, 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: .9146<\/p>\n

Resistances: .9160, .9171, .9186, .9194, .9213, .9227<\/p>\n

Supports: .9137, .9126, .9114, .9104, .9090, .9073<\/p>\n

Psychological: .92, .90,\u00a0 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 has bounced from Monday lows after dipping below .91 and touching our key 2nd tier uptrend line.\u00a0 The Aussie followed the EUR\/USD and Cable lower amid a wave of risk-aversion in reaction to statements from Moody\u2019s warning developed countries with increasing debt exposure to get their fiscal houses in … <\/p>\n

Continue reading “AUD\/USD Solidifies from Monday Lows”<\/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-7611","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7611","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=7611"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7611\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}