{"id":9735,"date":"2010-05-26T11:45:17","date_gmt":"2010-05-26T15:45:17","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9735"},"modified":"2010-05-26T11:45:17","modified_gmt":"2010-05-26T15:45:17","slug":"audusd-makes-solid-bounce-towards-524-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/26\/audusd-makes-solid-bounce-towards-524-highs\/","title":{"rendered":"AUD\/USD Makes Solid Bounce Towards 5\/24 Highs"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Aussie has outperformed since hitting bottom on 5\/25, popping back towards 5\/24 highs in reaction to a late risk trade rally yesterday.\u00a0 The Aussie is now trying to clear downtrend lines running through 5\/20 and 5\/19 highs in order to undergo a more substantial rally.\u00a0 However, markets are still under pressure considering there hasn\u2019t been any positive news emanating from the EU.\u00a0 On the other hand, no news is good news at this point considering the downward pressure inflicted by Spain on Monday.\u00a0 Australia was relatively light on the data wire again today, releasing a construction work figure which printed below analyst expectations.\u00a0 While it shows that the RBA\u2019s rate hikes may be having their intended impact, investors shouldn\u2019t read too far into this figure for the time being.\u00a0 Investors should also keep in mind that new vehicle sales shot higher last month.\u00a0 Regardless, the RBA will be hard pressed to raise rates again next month considering all of the negative economic headwinds circling the globe at the moment.\u00a0 The U.S. will dominate the data wire today with the release of DGO and new home sales figures.\u00a0 However, attention will likely remain focused on the EU as investors look for any news regarding the union\u2019s fiscal state.\u00a0 Australia will release private CapEx tomorrow followed by U.S. Prelim GDP.\u00a0 Hence, the markets may get active once again over the next 24-48 hours.<\/p>\n

Technically speaking, the Aussie faces technical barriers in the form of multiple downtrend lines along with intraday and 5\/21 highs.\u00a0 As for the downside, the Aussie has technical cushions in the form of May 2010 and September 2009 lows.\u00a0 Additionally, the psychological .80 area could serve as a solid technical cushion should it be tested.<\/p>\n

Price: .8244
\nResistances:\u00a0 .8246, .8268, .8303, .8329, .8348, .8363
\nSupports:\u00a0 .8224, .8205, .8176, .8150, .8123, .8101
\nPsychological:\u00a0 .80, .83, May 2010 and September 2009 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 – The Aussie has outperformed since hitting bottom on 5\/25, popping back towards 5\/24 highs in reaction to a late risk trade rally yesterday.\u00a0 The Aussie is now trying to clear downtrend lines running through 5\/20 and 5\/19 highs in order to undergo a more substantial rally.\u00a0 However, markets are still under … <\/p>\n

Continue reading “AUD\/USD Makes Solid Bounce Towards 5\/24 Highs”<\/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-9735","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9735","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=9735"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9735\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}