{"id":8401,"date":"2010-04-08T14:45:06","date_gmt":"2010-04-08T18:45:06","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8401"},"modified":"2010-04-08T14:45:06","modified_gmt":"2010-04-08T18:45:06","slug":"audusd-moderates-after-employment-data-hits-mark","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/08\/audusd-moderates-after-employment-data-hits-mark\/","title":{"rendered":"AUD\/USD Moderates After Employment Data Hits Mark"},"content":{"rendered":"

By Fast Brokers<\/strong> – Australia\u2019s Employment Change data printed about in line with analyst expectations while the Unemployment Rate stayed at 5.3%.\u00a0 Hence, Australia\u2019s employment picture is continuing to improve, supporting the RBA\u2019s hawkish monetary policy.\u00a0 On the other hand, the numbers aren\u2019t anything to be overly excited since the employment growth is below levels we saw at the end of 2009 and the beginning of this year.\u00a0 Additionally, recent housing and consumption data disappointing, implying that the RBA could decide to halt its rate hikes at the next meeting if fundamentals don\u2019t exceed expectations.\u00a0 Regardless, Australia\u2019s economy is outperforming other developed nations as Asia drives the global economic recovery.\u00a0 However, investors should keep an eye on recent developments in Greece as uncertainty returns with Greek bond yields hitting record highs.\u00a0 If the Euro should give way once again, this could drag the Aussie lower as well with investors heading to the dollar for safety.\u00a0 Meanwhile, the Aussie is eyeballing previous 2010 highs and may just need a broad-based boost in the risk trade to surmount this technical hurdle.\u00a0 The data wire will be pretty quiet tomorrow, meaning psychological forces could drive the market as the trading week concludes.<\/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: .9256
\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 – Australia\u2019s Employment Change data printed about in line with analyst expectations while the Unemployment Rate stayed at 5.3%.\u00a0 Hence, Australia\u2019s employment picture is continuing to improve, supporting the RBA\u2019s hawkish monetary policy.\u00a0 On the other hand, the numbers aren\u2019t anything to be overly excited since the employment growth is below levels … <\/p>\n

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