{"id":7739,"date":"2010-03-19T12:59:27","date_gmt":"2010-03-19T16:59:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7739"},"modified":"2010-03-19T12:59:27","modified_gmt":"2010-03-19T16:59:27","slug":"audusd-drops-following-rbi-hike","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/audusd-drops-following-rbi-hike\/","title":{"rendered":"AUD\/USD Drops Following RBI Hike"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The AUD\/USD is experiencing a sizable leg down after the Reserve Bank of India surprised markets by hiking interest rates by 25 basis points.\u00a0 The move sent shockwaves throughout the FX markets, exacerbating risk-averse flows after the Dollar was already strengthening in the midst of EU uncertainty.\u00a0 Sarkozy has reiterated Frances support for Greece, pitting the EU\u2019s two largest economies against one another.\u00a0 Australia was holding up relatively well even with huge selloffs taking place in the Cable and EUR\/USD.\u00a0 However, the RBI\u2019s rate hike has had a considerable impact on the Aussie due to Australia\u2019s economic exposure to India.\u00a0 Meanwhile, the data wire is very quiet today, placing added emphasis on today\u2019s news events.\u00a0 It will be interesting to see how the Aussie holds up as the trading session progresses.\u00a0 Due to the extent of the respective pullbacks in the EUR\/USD and Cable it wouldn\u2019t be surprising to see some buyers enter the market on oversold conditions.\u00a0\u00a0 Such a wave could benefit the Aussie and keep the currency pair above our 2nd tier downtrend line, which runs through 3\/15 lows.\u00a0 Therefore, investors should continue to monitor broad-based activity in the dollar for the remainder of the day.<\/p>\n<p>Technically speaking, the Aussie multiple downtrend lines serving as technical barriers along 3\/16 and 3\/12 highs.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with 3\/16 and 3\/15 lows.<\/p>\n<p>Price: .9142<\/p>\n<p>Resistances: .9153, .9162, .9169, .9177, .9185, .9192<\/p>\n<p>Supports: .9139, .9132, .9122, .9116, .9110, .9100<\/p>\n<p>Psychological: .91, .90, 2010 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/march19aussie.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/march19aussie.gif\" alt=\"\" width=\"595\" height=\"606\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast      Brokers<\/strong>.<\/a><\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; The AUD\/USD is experiencing a sizable leg down after the Reserve Bank of India surprised markets by hiking interest rates by 25 basis points.\u00a0 The move sent shockwaves throughout the FX markets, exacerbating risk-averse flows after the Dollar was already strengthening in the midst of EU uncertainty.\u00a0 Sarkozy has reiterated Frances &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/19\/audusd-drops-following-rbi-hike\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AUD\/USD Drops Following RBI Hike&#8221;<\/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-7739","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7739","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=7739"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7739\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}