{"id":7875,"date":"2010-03-23T13:20:59","date_gmt":"2010-03-23T17:20:59","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7875"},"modified":"2010-03-23T13:20:59","modified_gmt":"2010-03-23T17:20:59","slug":"audusd-moves-higher-in-wake-of-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/23\/audusd-moves-higher-in-wake-of-u-s-data\/","title":{"rendered":"AUD\/USD Moves Higher in Wake of U.S. Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie is moving higher right now in reaction to today\u2019s U.S. data set.\u00a0 U.S. Existing Home Sales printed about in line with analyst expectations, yet remain well below desired levels to establish a lasting economic recovery.\u00a0 The expected figure is proving positive for the risk trade across the board since this implies that the Fed may need to keep its monetary policy loose.\u00a0 An extension of dovish monetary policy in the U.S. bodes well for the Aussie due to the RBA\u2019s comparatively hawkish monetary stance.\u00a0 China is standing firm on its bid to keep the Yuan pegged, also a positive development for the Aussie since a weak Yuan helps fuel China\u2019s recovery while boosting the nation\u2019s demand for Australia\u2019s commodities.\u00a0 Meanwhile, all eyes remain fixated on the EU as European leaders play tug of war in regards of how to deal with Greece.\u00a0 Although a resolution is looking less likely as this week\u2019s EU meeting approaches, if a solution does emerge this could be a boon for the Aussie and the risk trade as a whole.\u00a0 Britain will also release its budget and investors will be looking for a conservative plan to keep the UK\u2019s deficit from ballooning further.\u00a0 Australia will be quiet on the data wire for the remainder of the week, possibly leaving the Aussie\u2019s performance correlated with the risk trade.\u00a0 Meaning investors should keep their eyes on headlines out of Europe along with upcoming EU and U.S. data points, including tomorrow\u2019s EU Flash PMI data set along with U.S. New Home Sales and DGO.<\/p>\n

Technically speaking, the Aussie is knocking on the door of our downtrend line and an eclipse could yield a retest of March 18th highs.\u00a0 That being said, the Aussie still has some medium-term downtrend lines hanging above along with 3\/17 highs.\u00a0 As for the downside, The Aussie has our uptrend line serving as a technical cushion along with intraday and March 22nd lows.\u00a0 Additionally, the psychological .91 and .90 level could serve as solid technical cushions should they be tested.<\/p>\n

Price: .9182
\nResistances: .9191, .9209, .9224, .9234, .9251
\nSupports: .9157, .9136, .9127, .9120, .9106, .9091
\nPsychological: .91, .90, 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 Aussie is moving higher right now in reaction to today\u2019s U.S. data set.\u00a0 U.S. Existing Home Sales printed about in line with analyst expectations, yet remain well below desired levels to establish a lasting economic recovery.\u00a0 The expected figure is proving positive for the risk trade across the board since … <\/p>\n

Continue reading “AUD\/USD Moves Higher in Wake of U.S. Data”<\/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-7875","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7875","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=7875"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7875\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}