{"id":8135,"date":"2010-03-31T13:36:59","date_gmt":"2010-03-31T17:36:59","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8135"},"modified":"2010-03-31T13:36:59","modified_gmt":"2010-03-31T17:36:59","slug":"audusd-drags-following-disappointing-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/31\/audusd-drags-following-disappointing-data\/","title":{"rendered":"AUD\/USD Drags Following Disappointing Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie took a step backwards during the Asia trading session after Australia\u2019s Building Approvals and Retail Sales releases both printed weaker than analyst expectations.\u00a0 These figures couple with the disappointing employment number we saw not so long ago, implying that the RBA\u2019s rate hikes could be having their intended impact.\u00a0 Hence, despite mixed comments from Stevens as of late, the RBA could opt to keep its monetary policy unchanged at the next meeting.\u00a0 However, analysts have the odds pegged at 50\/50, meaning upcoming economic data from Australia and around the global could shift the RBA\u2019s stance between now and their monetary policy meeting.\u00a0 Australia will keep the data train rolling tomorrow by releasing Trade Balance data.\u00a0 Should the Trade Balance print weaker than anticipated, this could drag on the Aussie.\u00a0 China and Japan will also print manufacturing production data.\u00a0 Investors will likely pay close attention to China\u2019s number to see whether its economic recovery is on track.\u00a0 A strong figure from China could counter today\u2019s disappointing data and push the Aussie higher in anticipation of more demand for Australia\u2019s commodities.\u00a0 The UK and U.S. will also release their own manufacturing data tomorrow during the Western session, meaning activity could pick up as the session progresses.\u00a0 Meanwhile, the Aussie could remain range bound in anticipation of tomorrow\u2019s action-packed schedule.<\/p>\n

Technically speaking, the Aussie has intraday and 3\/17 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 intraday, 3\/22 and 3\/25 lows.\u00a0 Additionally, the highly psychological .90 level could serve as a solid technical cushion once again should it be tested.<\/p>\n

Price: .9163
\nResistances: .9176, .9185, .9199, .9214, .9230, .9247
\nSupports: .9152, .9141, .9130, .9118, .9106, .9093
\nPsychological: .90, .91, .92 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 took a step backwards during the Asia trading session after Australia\u2019s Building Approvals and Retail Sales releases both printed weaker than analyst expectations.\u00a0 These figures couple with the disappointing employment number we saw not so long ago, implying that the RBA\u2019s rate hikes could be having their intended impact.\u00a0 … <\/p>\n

Continue reading “AUD\/USD Drags Following Disappointing 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-8135","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8135","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=8135"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8135\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}