{"id":8538,"date":"2010-04-13T14:28:15","date_gmt":"2010-04-13T18:28:15","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8538"},"modified":"2010-04-13T14:28:15","modified_gmt":"2010-04-13T18:28:15","slug":"audusd-settles-around-48-lows","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/audusd-settles-around-48-lows\/","title":{"rendered":"AUD\/USD Settles Around 4\/8 Lows"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie is consolidating above 4\/8 lows as the risk trade weakens a bit across the board.\u00a0 A decline in the Aussie could be considered healthy since the currency pair just set new 2010 highs.\u00a0 Meanwhile, even though Australia has been quiet on the data wire thus far this week, chatter has been emanating from RBA members that recent rate hikes may be having their desired effect, meaning the central bank could keep its policy in check next meeting should economic fundamentals wane.\u00a0 That being said, the Aussie could follow its correlation with the overall risk trade more closely over the near-term until investors receive Australia fundamentals or psychological news concerning monetary policy.\u00a0 Hence, the Aussie could lose a bit of its relative strength with investors locking in some profits.\u00a0 Meanwhile, although Australia will be relatively quiet, the U.S. earnings season is kicking off and investors will also digest U.S. Retail Sales and CPI data tomorrow, meaning activity could pick up across the FX markets over the next 24-48 hours.\u00a0 Of more importance to the Aussie will be Thursday\u2019s key data set from China.\u00a0 Should China\u2019s economic recovery cool due to tighter liquidity measures, this could place some downward pressure on the Aussie due to lowered expectations for commodity demand, and vice versa.\u00a0 Regardless, the Aussie does have a solid support system in place due to the extent of this year\u2019s upswing, meaning the currency pair will need to be dealt a heft blow to be knocked out of its current uptrend.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of intraday, 4\/12, and 11\/17\/09 highs.\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 level could serve as technical cushion over the near-term.<\/p>\n

Price: .9256
\nResistances: .9266, .9280, .9291, .9306, .9316, .9330, .9342
\nSupports: .9247, .9234, .9215, .9202, .9190, .9104
\nPsychological: .93, .92, November 2009 highs, April highs and 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 is consolidating above 4\/8 lows as the risk trade weakens a bit across the board.\u00a0 A decline in the Aussie could be considered healthy since the currency pair just set new 2010 highs.\u00a0 Meanwhile, even though Australia has been quiet on the data wire thus far this week, chatter … <\/p>\n

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