{"id":8332,"date":"2010-04-07T16:12:39","date_gmt":"2010-04-07T20:12:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8332"},"modified":"2010-04-07T16:12:39","modified_gmt":"2010-04-07T20:12:39","slug":"audusd-moves-sideways","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/07\/audusd-moves-sideways\/","title":{"rendered":"AUD\/USD Moves Sideways"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie is moving sideways below its psychological .93 level after yesterday\u2019s solid pop past March lows.\u00a0 The RBA decided to stay aggressive with its monetary policy and opted to raise rates by another 25 basis points to 4.25%.\u00a0 Demand from Asia for Australia\u2019s commodities is continuing to power its economy forward.\u00a0 Despite recent slowdowns in housing and retail sales the RBA forecasts rising prices.\u00a0 Hence, the central bank doesn\u2019t seem too hesitant about raising again should economic fundamentals improve.\u00a0 That being said, the RBA\u2019s rate hike has solidified the Aussie\u2019s upward trajectory unless upcoming economic data disappoints.\u00a0 Australia will release key employment figures tomorrow and it will be interesting to see if the RBA\u2019s hawkish stance forebodes of positive employment data.\u00a0 Should tomorrow\u2019s numbers come in strong, this could add to the Aussie\u2019s upward momentum.\u00a0 However, a pullback in employment has the potential to erase weekly gains.\u00a0 Australia will not be the only country busy on the wire with the BoE and ECB making monetary policy decisions of their own during the European trading session.\u00a0 Although both central banks are expected to stand pat, monetary policy statements always carry the potential to move FX markets.\u00a0 Therefore, investors should keep a close eye on the greenback\u2019s reaction as tomorrow\u2019s news hits the wire.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of intraday and 1\/14 highs.\u00a0 Speaking of which, the Aussie is creeping towards previous 2010 highs, meaning the 93 area could prove to be a tough barrier to crack over the near-term.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 4\/6, and 3\/31 lows.\u00a0 Additionally, the psychological .92 and.91 levels could serve as a technical cushion should it be tested.<\/p>\n

Price: .9259
\nResistances: .9264, .9278, .9291, .9304, .9316, .9330
\nSupports: .9247, .9230, .9214, .9194, .9185, .9173, .9161
\nPsychological: .93, .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 is moving sideways below its psychological .93 level after yesterday\u2019s solid pop past March lows.\u00a0 The RBA decided to stay aggressive with its monetary policy and opted to raise rates by another 25 basis points to 4.25%.\u00a0 Demand from Asia for Australia\u2019s commodities is continuing to power its economy … <\/p>\n

Continue reading “AUD\/USD Moves Sideways”<\/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-8332","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8332","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=8332"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8332\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}