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AUDUSD: Accumulating Upward Energy

2022-09-30
1214
Fundamental analysis:

The risk-sensitive Australian dollar fell 0.4 percent to $0.6494. A new gauge of consumer prices showed inflation slowed slightly in August from a month earlier, raising hopes that cost pressures may be nearing a peak. 

AUDUSD AUDUSD daily chart


A brief technical analysis:

From the daily chart: the short-term exchange rate fell slightly and then bottomed out and quickly rose. MACD was running below the 0-axis and the volume was slightly reduced. The RSI rose slightly. It is expected that the exchange rate will continue to rebound in the short term. 

Long and short turning point: 0.6650

Suppression bit: 0.6850 0.7030

Support level: 0.6450 0.6250

Trading strategy: bearish below 0.6650, target 0.6450, 0.6250

Alternative strategy: bullish above 0.6650, target 0.6850, 0.7030

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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