{"id":7660,"date":"2010-03-17T14:34:58","date_gmt":"2010-03-17T18:34:58","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7660"},"modified":"2010-03-17T14:34:58","modified_gmt":"2010-03-17T18:34:58","slug":"audusd-climbs-with-risk-appetite","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/17\/audusd-climbs-with-risk-appetite\/","title":{"rendered":"AUD\/USD Climbs with Risk Appetite"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie has taken another step higher and is continuing its consistent ascent after the Cable and EUR\/USD decided join in on the action yesterday.\u00a0 Both Euro currency pairs experienced sizable breakouts, particularly the Cable, after the Fed decided to keep its loose monetary policy intact.\u00a0 The broad-based risk rally and weakness in the Dollar naturally benefitted the Aussie since the RBA has been one of the biggest hawks around.\u00a0 This week\u2019s breakout in the AUD\/USD has gotten the topside momentum going again after relative consolidation into weak employment and housing reports from Australia.\u00a0 That being said, it will be interesting to see if the Aussie can sustain its upward trajectory should Australia\u2019s fundamentals continue to cool.\u00a0 China and the U.S. are in another verbal battle concerning Yuan policy.\u00a0 China is sticking to its guns in regards to keeping the Yuan stable despite calls from the U.S. to appreciate.\u00a0 China\u2019s attitude could prove to be favorable for the Aussie since it helps keep China\u2019s demand for Australia\u2019s commodities stable in the process.\u00a0 Meanwhile, investors will be keying in on Bernanke\u2019s congressional testimony.\u00a0 Additionally, the U.S. will release CPI, Unemployment Claims, and the Philly Index tomorrow.\u00a0 With Australia quiet on the data wire the Aussie could opt to follow its correlation with the risk trade for the remainder of the week.<\/p>\n

Technically speaking, the Aussie has our 4th tier downtrend line serving as a technical barrier.\u00a0 Our 4th tier runs through previous 2010 highs and is our last foreseeable downtrend line.\u00a0 Hence, a breakout beyond our 4th tier could signal more substantial topside movements over the near-term.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday and 3\/16 lows.<\/p>\n

Price: .9219<\/p>\n

Resistances: .9230, .9239, .9250, .9264, .9276, .9286<\/p>\n

Supports: .9213, .9203, .9195, .9186, .9178, .9171<\/p>\n

Psychological: .92, .93, 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 taken another step higher and is continuing its consistent ascent after the Cable and EUR\/USD decided join in on the action yesterday.\u00a0 Both Euro currency pairs experienced sizable breakouts, particularly the Cable, after the Fed decided to keep its loose monetary policy intact.\u00a0 The broad-based risk rally and … <\/p>\n

Continue reading “AUD\/USD Climbs with Risk Appetite”<\/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-7660","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7660","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=7660"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7660\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}