{"id":9232,"date":"2010-05-07T13:48:14","date_gmt":"2010-05-07T17:48:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9232"},"modified":"2010-05-07T13:48:14","modified_gmt":"2010-05-07T17:48:14","slug":"audusd-trade-back-at-february-levels","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/07\/audusd-trade-back-at-february-levels\/","title":{"rendered":"AUD\/USD Trade Back at February Levels"},"content":{"rendered":"

By Fast Brokers <\/strong>– The Aussie crashed with the risk trade yesterday as a collapse in U.S. equities and a shutdown in EU interbank lending sent the dollar flying higher.\u00a0 The Aussie was certainly no exception, testing its psychological .87 level.\u00a0 The Aussie has managed to pop back above .88, yet downward pressures remain as U.S. equities tack onto yesterday\u2019s selloff.\u00a0 The Aussie is suddenly trading back at February levels with .90 hanging high overhead.\u00a0 The question now becomes when the risk trade can find stability.\u00a0 While the weekend could investors and markets time to cool down and reflect so as to start next week on fresh footing, the Aussie could experience more volatility on Monday with key economic data from China on deck.\u00a0 China will release trade balance data followed by CPI and industrial production on Tuesday.\u00a0 Since Australia\u2019s economic performance is highly reliant on resource demand from China, any confirmation of a slowdown in China could place more near-term downward pressure on the Aussie.\u00a0 On the other hand, encouraging economic data from China may help the Aussie stabilize and regain its footing.\u00a0 Australia will also release job advertisements and business confidence data during Monday\u2019s trading session.\u00a0 Should Australia\u2019s data outperform this could also help buoy the Aussie since the RBA could feel the need to stay hawkish if conditions in the EU can stabilize between now and the RBA\u2019s next monetary policy meeting.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of intraday highs and the psychological .90 area.\u00a0 As for the downside, the Aussie has technical cushions in the form of intraday and 5\/6 lows along with the psychological .88 and .87 levels.<\/p>\n

Price: .8821
\nResistances: .8824, .8836, .8846, .8856, .8869, .8879, .8889
\nSupports:\u00a0 .8811, .8800, .8780, .8772, .8762, .8749, .8736
\nPsychological:\u00a0 .90, .89, .88<\/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 crashed with the risk trade yesterday as a collapse in U.S. equities and a shutdown in EU interbank lending sent the dollar flying higher.\u00a0 The Aussie was certainly no exception, testing its psychological .87 level.\u00a0 The Aussie has managed to pop back above .88, yet downward pressures remain as … <\/p>\n

Continue reading “AUD\/USD Trade Back at February Levels”<\/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-9232","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9232","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=9232"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9232\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}