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AUDUSD: Bears continue to push
2022-12-07
1372
Fundamental analysis:
The Reserve Bank of Australia decided to raise interest rates by 25 basis points to 3.1%, in line with expectations, but it is expected to further increase interest rates in the coming period, depending on data and central bank assessments, the operation of monetary policy is lagging, and the global economic outlook has deteriorated.
Australian dollar AUDUSD daily chart
Brief technical analysis:
Looking at the daily chart: the short-term exchange rate continues to decline, the MACD runs above the 0 axis but the volume can continue to shrink slightly, and the RSI weakens slightly. It is expected that the exchange rate will fall further with a high probability. the
Long-short turning point: 0.6850
Suppression bit: 0.7050 0.7270
Support levels: 0.6650 0.6450
Trading strategy: bearish below 0.6850, target 0.6650, 0.6450
Alternative strategy: Bullish above 0.6850, target 0.7050, 0.7270
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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