{"id":7977,"date":"2010-03-25T13:55:09","date_gmt":"2010-03-25T17:55:09","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7977"},"modified":"2010-03-25T13:55:09","modified_gmt":"2010-03-25T17:55:09","slug":"audusd-hops-back-above-91","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/25\/audusd-hops-back-above-91\/","title":{"rendered":"AUD\/USD Hops Back Above .91"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie has hopped back above .91 and is staging a modest recovery after participating in yesterday\u2019s heavy pullback in the risk trade.\u00a0 The Aussie dove beneath 3\/22 lows before bouncing off our 1st tier uptrend line and climbing back towards a respectable level.\u00a0 Australia has been quiet on the data wire this weekend, leaving its movements up to broad-based developments in the risk trade.\u00a0 That being said, the Aussie is still flexing a relative strength since the RBA has exhibited a tighter monetary stance than other developed nations.\u00a0 However, should uncertainty in the EU persist and Australia\u2019s data cool, then the RBA could choose to keep its rates in check.\u00a0 Investors to keep in mind that recent employment and housing data from Australia was a bit disappointing, hinting that the RBA\u2019s rate hikes could be having their intended impact.\u00a0 Steven\u2019s will speak tomorrow and should he make an inference to the RBA\u2019s rate plans this could have an impact on the Aussie.\u00a0 Speaking of which, Bernanke will testify today regarding the Fed\u2019s exit plans.\u00a0 However, with the data wire quiet investors will likely be focusing on the EU summit taking place over the next two days.\u00a0 Hence, investors should keep an eye on broad-based Dollar reaction to incoming headlines from the summit.<\/p>\n

Technically speaking, the Aussie has 3\/22, intraday, and 3\/9 lows serving as technical cushions along with the .91 and .90 levels should they be retested.\u00a0 As for the topside, the Aussie now faces multiple downtrend lines along with 3\/23 and 3\/17 highs.<\/p>\n

Price: .9124
\nResistances: .9137, .9145, .9156, .9162, .9168, .9177
\nSupports: .9121, .9116, .9110, .9101, .9087, .9073, .9061
\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 has hopped back above .91 and is staging a modest recovery after participating in yesterday\u2019s heavy pullback in the risk trade.\u00a0 The Aussie dove beneath 3\/22 lows before bouncing off our 1st tier uptrend line and climbing back towards a respectable level.\u00a0 Australia has been quiet on the data … <\/p>\n

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