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AUDUSD: bear down

2022-11-04
1038
Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.62847. The yield of Australian government bonds rose. The yield of two-year Australian bonds rose by 11 basis points to 3.386%, and the yield of 10-year Australian bonds rose by 12.6 basis points to 3.92%,



AUDUSD AUDUSD - 4-hour K line chart shows:





Technical analysis:


The 4-hour chart shows that the bearish momentum remains volatile and downward, and the short-term decline may continue. The market bearish sentiment is shrouded. The MACD indicator is in the bearish area under the 0 axis and continues to decline, while the RSI indicator is in the weak consolidation under the 5 equilibrium line;


Empty turning point: 0.62902


Pressing: 0.63130, 0.63363


Support: 0.62646, 0.62436


Trading strategy: bearish at 0.62902, target 0.62646, 0.62436


Alternative strategy: bullish above 0.62902, target 0.63130, 0.63363

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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