{"id":9271,"date":"2010-05-10T13:15:06","date_gmt":"2010-05-10T17:15:06","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9271"},"modified":"2010-05-10T13:15:06","modified_gmt":"2010-05-10T17:15:06","slug":"audusd-battles-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/10\/audusd-battles-90\/","title":{"rendered":"AUD\/USD Battles .90"},"content":{"rendered":"

By Fast Brokers<\/strong> – Like the Cable the Aussie has staged an impressive rally from Thursday lows, hurtling back above .90 and 3\/26 lows as investors digest the EU\u2019s announcement of a $1trillion bailout package.\u00a0 However, the Aussie\u2019s rally is cooling as the currency pair battles its highly psychological .90 area.\u00a0 That being said, it will be important to see the Aussie post a follow through rally over the next few days and get back above 5\/5 highs as a sign of good faith in regards to accepting a downturn in uncertainty.\u00a0 Australia\u2019s job advertisements data turned negative last month, a discouraging development in regards to the nation\u2019s economic performance and the likeliness of another RBA rate hike next month.\u00a0 Focus will be on China during tomorrow\u2019s Asia trading session with an action-packed data set on deck.\u00a0 China will release CPI, industrial production, new loans, and other data points.\u00a0 China\u2019s economic data tends to have a more noticeable impact on the Aussie since Australia\u2019s present economic performance is highly reliant upon resource demand from emerging nations.\u00a0 That being said, should China\u2019s data actually cool down this could place some downward pressure on the Aussie.\u00a0 On the other hand, encouraging data from China could help boost the Aussie towards 5\/5 highs.\u00a0 Regardless, the next 24 hours could be active.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of the psychological .90 area along with intraday and 5\/5 highs.\u00a0 As for the downside, the Aussie has technical cushions in the form of intraday and 5\/6 lows along with the psychological .89 and .88 levels.<\/p>\n

Price: .9003
\nResistances: .9017, .9036, .9057, .9076, .9090, .9104, .9118
\nSupports:\u00a0 .9001, .8987, .8978, .8964, .8947, .8932, .8908
\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 – Like the Cable the Aussie has staged an impressive rally from Thursday lows, hurtling back above .90 and 3\/26 lows as investors digest the EU\u2019s announcement of a $1trillion bailout package.\u00a0 However, the Aussie\u2019s rally is cooling as the currency pair battles its highly psychological .90 area.\u00a0 That being said, it … <\/p>\n

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