{"id":8602,"date":"2010-04-15T13:14:58","date_gmt":"2010-04-15T17:14:58","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8602"},"modified":"2010-04-15T13:14:58","modified_gmt":"2010-04-15T17:14:58","slug":"audusd-moderates-below-previous-april-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/15\/audusd-moderates-below-previous-april-highs\/","title":{"rendered":"AUD\/USD Moderates Below Previous April Highs"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie is consolidating following yesterday\u2019s solid upswing in the wake of positive U.S. Retail Sales data.\u00a0 Surprisingly, the Aussie has shown a muted reaction to solid Chinese GDP and Industrial Production growth.\u00a0 China\u2019s economic recovery is moving full steam ahead, which is normally a positive for the Aussie due to raised expectations for commodity demand.\u00a0 Perhaps such strong growth in China is worrying investors that the government will either have to appreciate or tighten soon to cool growth, a negative for the Aussie.\u00a0 Either way, the Aussie is still locked into its impressive uptrend.\u00a0 Meanwhile, inflation expectations are on the rise in Australia, signaling the RBA may have leverage to raise rates again next month despite slowdowns in several fundamental data points.\u00a0 Should the RBA remain on the offensive, this would likely keep the Aussie on its upward trajectory unless the central bank was to state that it is finished with its tightening.\u00a0 The data wire will be relatively quiet tomorrow until the U.S. session with Building Permits and Prelim Consumer Sentiment on the way.\u00a0 Positive U.S. economic data could benefit the Aussie and the risk trade as a whole.\u00a0 Additionally, investors should also keep an eye out for upcoming earnings reports before and after the bell for positive U.S. earnings may also benefit the Aussie.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of previous April highs.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 4\/12, and 4\/6 lows.\u00a0 Additionally, the psychological .93 level could continue to serve as technical cushion over the near-term.<\/p>\n

Price: .9330
\nResistances: .9342, .9359, .9373, .9391, .9403, .9410, .9432
\nSupports: .9327, .9315, .9300, .9289, .9272, .9257
\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 following yesterday\u2019s solid upswing in the wake of positive U.S. Retail Sales data.\u00a0 Surprisingly, the Aussie has shown a muted reaction to solid Chinese GDP and Industrial Production growth.\u00a0 China\u2019s economic recovery is moving full steam ahead, which is normally a positive for the Aussie due to … <\/p>\n

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