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AUDUSD: bearish weak downside

2022-09-22
1190
Fundamental analysis:

AUD/USD remained volatile at 0.66272. Assistant Chairman of the Federal Reserve of Australia (RBA) Bullock: Due to the rise in yield, the bonds held by the RBA lost about AUD40 billion. The accounting loss of the Federal Reserve of Australia in 2021/2022 was US $36.7 billion. Negative asset positions will not affect the RBA's ability to work.


AUDUSD AUDUSD - 4-hour K line chart shows:





Technical analysis:


The 4-hour chart shows that the short power has maintained a narrow range of consolidation and slowly moved down, and the short-term decline has not stopped. The MACD indicator is maintained in the short area, while the RSI indicator is maintained in the short area and remains weak;


Empty turning point: 0.66359


Pressing position: 0.66537, 0.66755


Support position: 0.66074, 0.65897


Trading strategy: bearish at 0.66359, target 0.66074, 0.65897


Alternative strategy: bullish above 0.66359, target 0.66537, 0.66755

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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