{"id":9429,"date":"2010-05-14T15:57:24","date_gmt":"2010-05-14T19:57:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9429"},"modified":"2010-05-14T15:57:24","modified_gmt":"2010-05-14T19:57:24","slug":"audusd-shrugs-with-risk-trade-weakness","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/14\/audusd-shrugs-with-risk-trade-weakness\/","title":{"rendered":"AUD\/USD Shrugs with Risk Trade Weakness"},"content":{"rendered":"

By Fast Brokers<\/strong> – Though the Aussie is exerting a relative strength today, the currency pair is still shrugging lower and testing weekly lows as the risk trade deteriorates across the board.\u00a0 The Aussie\u2019s relative strength likely stems from yesterday\u2019s stronger than expected employment change data as Australia benefits from demand for its resources.\u00a0 Hence, the RBA could be enticed to raise rates again next month should uncertainty in the EU manage to calm over the next couple weeks.\u00a0 However, if the Euro continues its downturn then the RBA may find global conditions too unstable in regards to tightening again.\u00a0 Regardless, Australian fundamentals are still strong, allowing the Aussie to hold above .89 level despite incredible weakness in the Euro and Pound.\u00a0 On the other hand, the downturn in China\u2019s SCI and\u00a0 recent weakness in China real estate prices could be a cause for concern for the Aussie over the medium-term should this impact Chinese fundamentals.\u00a0 However, the near-term picture is improving and the Aussie is taking full advantage of its relative strength for the time being.\u00a0 Meanwhile, investors should keep an active eye on the EUR\/USD and Cable, for a return to last week\u2019s volatility may leave the Aussie little option but to follow suit.<\/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: .8911
\nResistances:\u00a0 .8923, .8932, .8947, .8962, .8976, .8987, .9001
\nSupports:\u00a0 .8908, .8898, .8885, .8869, .8855, .8843
\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 – Though the Aussie is exerting a relative strength today, the currency pair is still shrugging lower and testing weekly lows as the risk trade deteriorates across the board.\u00a0 The Aussie\u2019s relative strength likely stems from yesterday\u2019s stronger than expected employment change data as Australia benefits from demand for its resources.\u00a0 Hence, … <\/p>\n

Continue reading “AUD\/USD Shrugs with Risk Trade Weakness”<\/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-9429","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9429","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=9429"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9429\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}