{"id":8959,"date":"2010-04-30T13:03:15","date_gmt":"2010-04-30T17:03:15","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8959"},"modified":"2010-04-30T13:03:15","modified_gmt":"2010-04-30T17:03:15","slug":"audusd-battles-with-april-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/30\/audusd-battles-with-april-highs\/","title":{"rendered":"AUD\/USD Battles with April Highs"},"content":{"rendered":"

By Fast Brokers<\/strong> – The AUD\/USD is continuing its wild, volatile consolidation pattern while exhibiting a slight downward bias.\u00a0 The SEC\u2019s announcement that it is investigating Goldman\u2019s trading operations has resulted in a broad based pullback in the risk trade, and the Aussie is no exception.\u00a0 The AUD\/USD has now set consecutive lower highs (4\/12, 4\/14, 4\/21. 4\/30).\u00a0 Hence, the AUD\/USD doesn\u2019t seem to have the strength to break out into a new uptrend due to fiscal problems in the EU.\u00a0 However, the AUD\/USD continues to rally strong and stay within striking distance of previous April highs since the RBA still has the most aggressive monetary policy stance around the globe.\u00a0 On the other hand, should fiscal problems in the EU continue and destabilize further then the RBA may be inclined to keep its monetary policy unchanged come May\u2019s meeting.\u00a0 After all, Stevens recently hinted that the benchmark rate has almost reached a fair value, signaling that the rate hike campaign could have an end in sight.\u00a0 Australia will reenter the data wire tomorrow by releasing new home sales and private sector credit figures.\u00a0 Should new home sales cool and private sector credit tighten, this could show that the RBA\u2019s hawkish monetary policy is having its desired impact, an Aussie negative.\u00a0 On the other hand, of the data points print strong then the Aussie should remain locked into its uptrend.\u00a0 Attention will then shift to the U.S. with a key data set on the way, highlighted by advance GDP.\u00a0 That being said, the trading week could end on an active note.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of intraday, 4\/26, 4\/21, 4\/15 and 4\/12 highs.\u00a0 Additionally, the psychological .93 and .94 levels could serve technical obstacles over the near-term.\u00a0 As for the downside, the Aussie has multiple uptrend lines serving as technical cushions along with intraday and 3\/22 lows.<\/p>\n

Price: .9303
\nResistances: .9311, .9319, .9331, .9340, .9351, .9359
\nSupports: .9300, .9291, .9283, .9273, .9259, .9251
\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 AUD\/USD is continuing its wild, volatile consolidation pattern while exhibiting a slight downward bias.\u00a0 The SEC\u2019s announcement that it is investigating Goldman\u2019s trading operations has resulted in a broad based pullback in the risk trade, and the Aussie is no exception.\u00a0 The AUD\/USD has now set consecutive lower highs (4\/12, … <\/p>\n

Continue reading “AUD\/USD Battles with April Highs”<\/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-8959","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8959","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=8959"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8959\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}