{"id":8070,"date":"2010-03-29T13:13:39","date_gmt":"2010-03-29T17:13:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8070"},"modified":"2010-03-29T13:13:39","modified_gmt":"2010-03-29T17:13:39","slug":"audusd-outperforms-after-hawkish-comments-from-stevens","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/29\/audusd-outperforms-after-hawkish-comments-from-stevens\/","title":{"rendered":"AUD\/USD Outperforms After Hawkish Comments from Stevens"},"content":{"rendered":"

By Fast Brokers <\/strong>– The Aussie has posted a considerable rally today in reaction to comments from RBA Governor Stevens implying that he feels uncomfortable with price levels right now, a hint that the central bank could continue its hawkish monetary stance.\u00a0\u00a0 This contrasts quotes from Stevens on Friday when he suggested that global economic uncertainty, particularly in the EU, is unsettling.\u00a0 Hence, Stevens is sending a muddy message, casting a shadow of uncertainty upon the RBA\u2019s next monetary policy meeting.\u00a0 Regardless, today\u2019s hawkish comments are in the foreground, taking precedence and driving the Aussie higher.\u00a0 Meanwhile, investors have dipped their toes back into the Euro and Cable in the wake of the EU\u2019s agreement to help Greece should conditions deteriorate further.\u00a0 The broad-based pop in the risk trade stemming from Friday\u2019s announcement has also benefitted the Aussie.\u00a0 However, Fitch\u2019s Portugal downgrade lingers while the EUR\/USD and Cable battle their psychological 1.35 and 1.50 levels, respectively.\u00a0 The Aussie also faces its share of technical barriers, though the currency pair still flexes its comparative strength.\u00a0 Though the data wire is quiet today, news will pick up again tomorrow the Final GDP from the U.K. followed by U.S. CB Consumer Confidence.\u00a0 However, Aussie investors will likely place more emphasis on Wednesday\u2019s Building Approvals and Retail Sales data from Australia.\u00a0 Should these two data points outperform, this would confirm Stevens\u2019 concern about inflation and stoke speculation that the RBA may raise rates again, a positive for the Aussie.\u00a0 However, if the data disappoints while the overall risk trade drags the Aussie may not have the momentum to break free of its near-term topside technicals.<\/p>\n

Technically speaking, the Aussie has 3\/23 and 3\/27 highs serving as technical barriers along with multiple downtrend lines.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with 3\/25 and 3\/26 lows.\u00a0 Additionally, the highly psychological .90 level could serve as a solid technical cushion once again should it be tested.<\/p>\n

Price: .9153
\nResistances: .9163, .9176, .9185, .9199, .9214, .9230
\nSupports: .9130, .9118, .9106, .9087, .9073, .9054, .9031
\nPsychological: .90, .91, March Lows and 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 posted a considerable rally today in reaction to comments from RBA Governor Stevens implying that he feels uncomfortable with price levels right now, a hint that the central bank could continue its hawkish monetary stance.\u00a0\u00a0 This contrasts quotes from Stevens on Friday when he suggested that global economic … <\/p>\n

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