{"id":8705,"date":"2010-04-20T13:10:42","date_gmt":"2010-04-20T17:10:42","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8705"},"modified":"2010-04-20T13:10:42","modified_gmt":"2010-04-20T17:10:42","slug":"audusd-rallies-in-reaction-to-rba-minutes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/20\/audusd-rallies-in-reaction-to-rba-minutes\/","title":{"rendered":"AUD\/USD Rallies in Reaction to RBA Minutes"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie has brushed aside concerns about China and Goldman, registering a sizable v-shaped recovery from yesterday\u2019s lows.\u00a0 The Aussie has experienced considerable strength following the release of the RBA\u2019s minutes from its previous monetary policy meeting.\u00a0 The RBA implied that it is not opposed to raising rates further should demand for Australia\u2019s commodities stay strong.\u00a0 This depends a lot on China\u2019s economic performance, so investors should keep an eye on fundamental data over the medium-term should the recent clampdown on the real-estate industry curtail GDP.\u00a0 As for the time being, as long as the RBA stays hawkish the Aussie could outperform.\u00a0 However, it will be interesting to see with Australia\u2019s upcoming fundamental releases show any signs of easing under the pressure of higher interest rates.\u00a0 Additionally, we have seen the impact psychological news from China can have on the Aussie, so investors should keep a close eye on the news wire.\u00a0 Although Australia will release its MI leading index tomorrow, more emphasis will likely be placed on the UK\u2019s CCC data followed by Bernanke\u2019s testimony.\u00a0 Meanwhile, U.S. earnings will continue to hit the wire, and with psychological developments up in the air around the globe the FX markets have the potential to jolt to life unexpectedly, so investors should remain on their toes.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of 4\/15 and 4\/12 highs.\u00a0 Additionally, the psychological .93 and .94 levels could serve as psychological obstacles over the near-term.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with\u00a0 4\/13 and 4\/19 lows.<\/p>\n

Price: .9306
\nResistances: .9316, .9329, .9343, .9353, .9364, .9383
\nSupports: .9294, .9282, .9270, .9257, .9245, .9234
\nPsychological: .93, .94, .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 – The Aussie has brushed aside concerns about China and Goldman, registering a sizable v-shaped recovery from yesterday\u2019s lows.\u00a0 The Aussie has experienced considerable strength following the release of the RBA\u2019s minutes from its previous monetary policy meeting.\u00a0 The RBA implied that it is not opposed to raising rates further should demand … <\/p>\n

Continue reading “AUD\/USD Rallies in Reaction to RBA Minutes”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8705","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=8705"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8705\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}