{"id":8665,"date":"2010-04-19T14:25:52","date_gmt":"2010-04-19T18:25:52","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8665"},"modified":"2010-04-19T14:25:52","modified_gmt":"2010-04-19T18:25:52","slug":"audusd-knocked-lower-by-goldman-and-china","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/19\/audusd-knocked-lower-by-goldman-and-china\/","title":{"rendered":"AUD\/USD Knocked Lower By Goldman and China"},"content":{"rendered":"

By Fast Brokers<\/strong> – Goldman knocked the Aussie from its lofty perch yesterday as the currency pair tumbled below .92 on a spike in volume as risk-aversion set in across the board.\u00a0 The Aussie is also being dragged lower today by more restrictions on real-estate oriented lending in China.\u00a0 The government has taken its most aggressive measure yet by telling banks to stop lending for 3rd home purchases.\u00a0 China real-estate prices flew by over 10% in March and the government is obviously concerning that if it does not get more proactive the repercussions could be devastating.\u00a0 The SCI reacted accordingly by dropping nearly -5% with investors fearing that China\u2019s breathtaking economic growth could cool down.\u00a0 Should China continue to tighten its grip with appreciation or riase rates the Aussie could fall victim to risk-averse money flows once again.\u00a0 Australia\u2019s own impressive growth rate has been fueled by demand from China for its abundant commodity resources, particularly iron ore, oil, and gold.\u00a0 Therefore, a slowdown in China could have a noticeable impact on Australia\u2019s economy, thus weighing down on the Aussie.\u00a0\u00a0 Meanwhile, the RBA will release its meeting minutes tomorrow and any indication that the central bank is leaning towards keeping rates unchanged could have a negative influence on the Aussie.\u00a0 On the other hand, should the RBA express confidence in Australia\u2019s projected economic performance while hinting at more rate hakes, this could help stabilize the Aussie over the near-term.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of 4\/6 and 4\/14 highs.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday, 3\/31, and 3\/24 lows.\u00a0 Additionally, the psychological .92 area could serve as a technical cushion for the time being.<\/p>\n

Price: .9191
\nResistances: .9218, .9237, .9257, .9272, .9289, .9300, .9312
\nSupports: .9179, .9162, .9151, .9139, .9127, .9110
\nPsychological: .93, .92, 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 – Goldman knocked the Aussie from its lofty perch yesterday as the currency pair tumbled below .92 on a spike in volume as risk-aversion set in across the board.\u00a0 The Aussie is also being dragged lower today by more restrictions on real-estate oriented lending in China.\u00a0 The government has taken its most … <\/p>\n

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