{"id":8180,"date":"2010-04-01T13:16:43","date_gmt":"2010-04-01T17:16:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8180"},"modified":"2010-04-01T13:16:43","modified_gmt":"2010-04-01T17:16:43","slug":"audusd-heads-higher-with-risk-trade","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/audusd-heads-higher-with-risk-trade\/","title":{"rendered":"AUD\/USD Heads Higher with Risk Trade"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The Aussie is heading higher and testing weekly highs as the risk trade rallies in reaction to strong Manufacturing PMI data from around the globe.\u00a0 Both China and Japan\u2019s manufacturing data met estimates, a positive development for the Aussie since China is driving demand for Australia\u2019s commodities.\u00a0 In fact, Australia\u2019s trade deficit came in higher than anticipated today amid an increase in imports, particularly heavy machinery for mining operations.\u00a0 Hence, demand for Australia\u2019s commodities remains plentiful, a positive for the Aussie when the RBA makes it next monetary policy decision.\u00a0 However, recent data from Australia has been somewhat disappointing, including yesterday\u2019s Retail Sales and Building Approvals data.\u00a0 Hence, the RBA could be hesitant in raising rates further, which is likely keeping the Aussie in check thus far today.\u00a0 All eyes will be on the U.S. tomorrow with Non-Farm Employment Change and headline Unemployment Rate figures on deck.\u00a0 Many investors will take off for the holiday weekend, meaning volatility could increase due to the combination of light volume and key fundamental data.\u00a0 Hence, investors should keep a close eye on the Dollar\u2019s reaction to tomorrow\u2019s U.S. data set.<\/p>\n<p>Technically speaking, despite today\u2019s upward movement in the Aussie the currency pair still faces technical barriers in the form of 3\/19 and 3\/17 highs.\u00a0 Additionally, the psychological .92 area could influence the Aussie over the near-term.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday and 3\/31 lows.<\/p>\n<p>Price: .9202<br \/>\nResistances: .9214, .9230, .9247, .9264, .9278<br \/>\nSupports: .9194, .9185, .9173, .9161, .9143, .9130<br \/>\nPsychological: .91, .92 March Lows and Highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April1Aussie.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April1Aussie.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/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 Aussie is heading higher and testing weekly highs as the risk trade rallies in reaction to strong Manufacturing PMI data from around the globe.\u00a0 Both China and Japan\u2019s manufacturing data met estimates, a positive development for the Aussie since China is driving demand for Australia\u2019s commodities.\u00a0 In fact, Australia\u2019s trade &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/audusd-heads-higher-with-risk-trade\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AUD\/USD Heads Higher with Risk Trade&#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-8180","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8180","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=8180"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8180\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}