{"id":8502,"date":"2010-04-12T13:15:32","date_gmt":"2010-04-12T17:15:32","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8502"},"modified":"2010-04-12T13:15:32","modified_gmt":"2010-04-12T17:15:32","slug":"audusd-sets-new-2010-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/12\/audusd-sets-new-2010-highs\/","title":{"rendered":"AUD\/USD Sets New 2010 Highs"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie darted beyond previous 2010 highs today after the EU\u2019s decision to provide Greece with aid benefited the risk trade across the board.\u00a0 Due to the RBA\u2019s comparatively hawkish stance coupled with solid Australia economic fundamentals the Aussie was ready to participate.\u00a0 However, the Aussie has come off of intraday highs after nearly testing November 2009 highs.\u00a0 Regardless, the Aussie\u2019s uptrend is chugging along and with light data on the wire until Wednesday current momentums could carry on for the time being.\u00a0 Although the U.S. will release its Trade Balance figure tomorrow, this likely won\u2019t have too large of an impact on the FX markets unless it registers a large deviation from analyst expectations.\u00a0 Meanwhile, Aussie investors should be paying close attention to developments in China.\u00a0 China is clamping down on lending as the government battles to contain its real estate bubble and inflationary pressures.\u00a0 China will release key data on Thursday, highlighted by CPI and GDP.\u00a0 Should China\u2019s economic recovery cool from the implementation of tighter liquidity measures, the Aussie could be dragged lower amid lowered expectations for demand for Australia\u2019s commodities.\u00a0 On the other hand, should China\u2019s economic recovery plow ahead the Aussie could benefit directly since China\u2019s rebound is helping fuel Australia\u2019s economic growth.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of intraday and 11\/17\/09 highs.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 4\/9, and 4\/5 lows.\u00a0 Additionally, the psychological .93 and.92 levels could serve as technical cushions over the near-term.<\/p>\n

Price: .9291
\nResistances: .9306, .9316, .9330, .9342, .9353, .9383
\nSupports: .9291, .9273, .9259, .9247, .9234, .9215, .9202
\nPsychological: .93, .92, November 2009 highs, April lows<\/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 darted beyond previous 2010 highs today after the EU\u2019s decision to provide Greece with aid benefited the risk trade across the board.\u00a0 Due to the RBA\u2019s comparatively hawkish stance coupled with solid Australia economic fundamentals the Aussie was ready to participate.\u00a0 However, the Aussie has come off of intraday … <\/p>\n

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