{"id":9027,"date":"2010-05-03T10:10:51","date_gmt":"2010-05-03T14:10:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9027"},"modified":"2010-05-03T10:10:51","modified_gmt":"2010-05-03T14:10:51","slug":"audusd-holds-steady-ahead-of-the-rba","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/03\/audusd-holds-steady-ahead-of-the-rba\/","title":{"rendered":"AUD\/USD Holds Steady Ahead of the RBA"},"content":{"rendered":"

By Fast Brokers<\/strong> – Australian home prices came in stronger than anticipated today, an encouraging development for the Aussie considering the RBA will announce its monetary policy decision tomorrow.\u00a0 Recent uncertainty in the EU coupled with this weekend\u2019s announcement from China that it is raising its reserve ratio again could lead the RBA to keep its benchmark rate unchanged.\u00a0 While fiscal issues in the EU challenge the sustainability of the global economic recovery, tightening in China could effectively slow China\u2019s growth, a negative for the Aussie since the currency pair is thriving off of Asian demand for the nation\u2019s commodities.\u00a0 Additionally, the RBA\u2019s Stevens recently mentioned that interest rates may be approaching par, a signal that the rate hikes could be coming to an end.\u00a0 However, the RBA still seems to be leaning towards a hawkish stance, meaning there\u2019s certainly potential for another rate raise tomorrow.\u00a0 That being said, the Aussie could experience a boost in volatility during tomorrow\u2019s Asia trading session due to slight uncertainty surrounding the RBA\u2019s decision.\u00a0 Even if the RBA should raise rates again, any more language regarding an end to the central bank\u2019s hawkish stance could prove negative for the Aussie.\u00a0 Meanwhile, investors are looking ahead to today\u2019s U.S. manufacturing PMI release along with any more psychological developments regarding Greece and the UK parliamentary elections.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of intraday, 4\/30, 4\/26, 4\/21, 4\/15 and 4\/12 highs.\u00a0 Additionally, the psychological .93 and .94 levels could continue to 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 4\/28 lows.<\/p>\n

Price: .9262
\nResistances: .9264, .9273, .9283, .9291, .9300, .9313
\nSupports: .9245, .9235, .9224, .9216, .9208, .9194
\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 – Australian home prices came in stronger than anticipated today, an encouraging development for the Aussie considering the RBA will announce its monetary policy decision tomorrow.\u00a0 Recent uncertainty in the EU coupled with this weekend\u2019s announcement from China that it is raising its reserve ratio again could lead the RBA to keep … <\/p>\n

Continue reading “AUD\/USD Holds Steady Ahead of the RBA”<\/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-9027","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9027","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=9027"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9027\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}