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AUDUSD: Bears continue to test
2022-09-28
1263
Fundamental analysis:
The WTO joins a growing number of observers who believe the global economy is headed for recession. WTO Director-General Iweera said in an interview in Geneva on Tuesday that the indicators did not look very good, and she believed that the global recession is the situation that is slowly entering. The OECD downgraded its G20 growth forecast for next year, ahead of the WTO's downbeat forecast for the global economy.
AUDUSD AUDUSD daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate continues to accelerate downward, the MACD runs below the 0-axis and the volume is strong, and the RSI continues to fall. It is expected that the exchange rate will likely further decline after a rebound.
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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