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AUDUSD: bears continue to move down

2022-09-02
963
Fundamental analysis:

The Aussie dollar remained volatile around 0.67837 against the US dollar. The RBA may raise interest rates by 50 basis points to 2.35% next week and open the door for further tightening of monetary policy in the future. The market thinks that the interest rate will reach a peak of about 3.85% by May next year, but most analysts are not so hawkish.


AUDUSD - 4-hour K-line chart shows:





Technical analysis:


According to the 4-hour chart, the short power continued to fluctuate downward, and the low level continued to move downward after short-term consolidation. The MACD indicator remained weak in the short area, and the RSI indicator remained weak in the short area;


Long and short turning point: 0.67913


Pressing position: 0.68169, 0.68435


Support position: 0.67635, 0.67472


Trading strategy: bearish below 0.67913, target 0.67635, 0.67472


Alternative strategy: bullish above 0.67913, target 0.68169, 0.68435

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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