{"id":9781,"date":"2010-05-27T11:59:51","date_gmt":"2010-05-27T15:59:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9781"},"modified":"2010-05-27T11:59:51","modified_gmt":"2010-05-27T15:59:51","slug":"audusd-upward-momentum-gains-traction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/27\/audusd-upward-momentum-gains-traction\/","title":{"rendered":"AUD\/USD Upward Momentum Gains Traction"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The Aussie\u2019s upward momentum is gaining traction as the currency pair separates itself from a downtrend line running through 5\/19 highs.\u00a0 Hence, if broad based uncertainty abates the Aussie could be positioned to exert some relative strength over the near-term.\u00a0 Speaking of which, all eyes are still on the EU as Geithner visits Germany to urge solidarity and Spain\u2019s parliament votes on proposed austerity measures.\u00a0 Therefore, investors should keep a sharp eye on the news wire over the next 24 hours.\u00a0 The U.S. will also print prelim GDP and weekly unemployment claims today, meaning economic fundamentals will regain some influence.\u00a0 Speaking of data, Austalia\u2019s CapEx figure came in below analyst expectations, signaling Australia\u2019s economy could in fact be cooling down, giving the RBA less incentive to hike next month.\u00a0 The data wire will be relatively tame across the globe tomorrow, leaving psychological forces in the driver\u2019s seat as the trading week comes to a close.<\/p>\n<p>Technically speaking, the Aussie faces technical barriers in the form of multiple downtrend lines along with intraday and 5\/19 highs.\u00a0 As for the downside, the Aussie has technical cushions in the form of 5\/26 and 5\/25 lows.\u00a0 Additionally, the psychological .80 area could serve as a solid technical cushion should it be tested.<\/p>\n<p>Price: .8365<br \/>\nResistances:\u00a0 .8369, .8391, .8409, .8426, .8452, .8470<br \/>\nSupports:\u00a0 .8341, .8323, .8299, .8268, .8246, .8224<br \/>\nPsychological:\u00a0 .85, May lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May27Aussie.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May27Aussie.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast                               Brokers<\/strong>.<\/a><\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; The Aussie\u2019s upward momentum is gaining traction as the currency pair separates itself from a downtrend line running through 5\/19 highs.\u00a0 Hence, if broad based uncertainty abates the Aussie could be positioned to exert some relative strength over the near-term.\u00a0 Speaking of which, all eyes are still on the EU as &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/27\/audusd-upward-momentum-gains-traction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AUD\/USD Upward Momentum Gains Traction&#8221;<\/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-9781","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9781","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=9781"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9781\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}