{"id":9382,"date":"2010-05-12T12:14:46","date_gmt":"2010-05-12T16:14:46","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9382"},"modified":"2010-05-12T12:14:46","modified_gmt":"2010-05-12T16:14:46","slug":"audusd-remains-below-90-on-china-concerns","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/audusd-remains-below-90-on-china-concerns\/","title":{"rendered":"AUD\/USD Remains Below .90 on China Concerns"},"content":{"rendered":"

By Fast Brokers <\/strong>– The Aussie is still trading below its psychological .90 level today despite a bit of intraday volatility stemming from concerns about an overheating Chinese economy.\u00a0 It is well known that Chinese demand for Australian resources has driven the Aussie higher, which means it is understandable that a bear market in the SCI is weighing on the currency pair right now.\u00a0 Additionally, fiscal problems in the EU are certainly no help as the FX risk struggles across the board.\u00a0 Meanwhile, Australia home loans declined at a swifter rate than expected, implying that the RBA\u2019s hawkish monetary policy may finally be yielding their intended results.\u00a0 Australia will light up the data wire again tomorrow by releasing employment change data along with its headline employment rate.\u00a0 This could help give us a more comprehensive picture of Australia\u2019s present economic status.\u00a0 Should employment also waver this could place further downward pressure on the Aussie since it could be difficult for the RBA to raise its benchmark rate again at next month\u2019s monetary policy meeting.\u00a0 On the other hand, should the growth in employment accelerate this could help buoy the Aussie and get the currency pair back above its highly psychological .90 level.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of the psychological .90 area along with intraday and 5\/10 highs.\u00a0 As for the downside, the Aussie has technical cushions in the form of intraday and 5\/7 lows along with the psychological .89 and .88 levels.<\/p>\n

Price: .8947
\nResistances:\u00a0 .8964, .8976, .8987, .9001, .9017, .9036, .9057
\nSupports:\u00a0 .8947, .8932, .8920, .8908, .8888, .8879, .8855
\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 is still trading below its psychological .90 level today despite a bit of intraday volatility stemming from concerns about an overheating Chinese economy.\u00a0 It is well known that Chinese demand for Australian resources has driven the Aussie higher, which means it is understandable that a bear market in the … <\/p>\n

Continue reading “AUD\/USD Remains Below .90 on China Concerns”<\/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-9382","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9382","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=9382"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}