{"id":7703,"date":"2010-03-18T14:48:56","date_gmt":"2010-03-18T18:48:56","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7703"},"modified":"2010-03-18T14:48:56","modified_gmt":"2010-03-18T18:48:56","slug":"audusd-dips-with-eu-uncertainty","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/18\/audusd-dips-with-eu-uncertainty\/","title":{"rendered":"AUD\/USD Dips with EU Uncertainty"},"content":{"rendered":"

By Fast Brokers<\/strong> – The AUD\/USD has dipped back below its psychological .92 level, giving back some of its weekly gains in the process.\u00a0 The Euro is undergoing a heavy selloff in reaction to another psychological flare taking off in the EU.\u00a0 Greece has set the stage for a showdown with Germany by giving the EU one week to come up with sufficient measures for financial assistance before Greece heads to the IMF for help.\u00a0 Uncertainty in the EU and resulted in a broad based Dollar rally, dragging the Aussie and the Cable lower with it.\u00a0 However, losses in the Aussie have been relatively minimal thus far compared to the EUR\/USD.\u00a0 The Aussie has been performing comparatively well in general due to the RBA\u2019s tight monetary policy stance amid continual strength in Australia\u2019s economy.\u00a0 However, it remains to be seen whether the Euro\u2019s downturn will spill over further into other major Dollar pairs.\u00a0 Therefore, investors should keep a sharp eye on the Aussie and its interaction with present technical levels.\u00a0 Australia has been quiet on the data front this week, leaving its movements up to broad-based activity in the risk trade.\u00a0 Hence, it will be interesting to see if the Euro can manage to stabilize after today\u2019s hefty selloff and allow the Aussie to remain locked into its uptrend.<\/p>\n

Technically speaking, the Aussie multiple downtrend lines serving as technical barriers along with previous March highs.\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, 3\/17, and 3\/16 lows.<\/p>\n

Price: .9192<\/p>\n

Resistances: .9196, .9207, .9215, .9229, .9239, .9250<\/p>\n

Supports: .9184, .9177, .9171, .9161, .9153, .9139<\/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 regarded neither 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 dipped back below its psychological .92 level, giving back some of its weekly gains in the process.\u00a0 The Euro is undergoing a heavy selloff in reaction to another psychological flare taking off in the EU.\u00a0 Greece has set the stage for a showdown with Germany by giving the … <\/p>\n

Continue reading “AUD\/USD Dips with EU Uncertainty”<\/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-7703","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7703","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=7703"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7703\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}