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AUDUSD: Bears move down
2023-06-21
768
Fundamental analysis:
The Australian dollar remained volatile around 0.67861 against the US dollar. The minutes of the RBA meeting showed that the committee's debate on raising interest rates and pausing interest rate hikes this month was "very balanced", but recent data shows that inflation risks have turned to some extent to the upside.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains volatile and moves downward, and the short-term decline may continue. The overall market remains volatile and continues to decline. The MACD indicator is weakly downward below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;
Resistance levels: 0.68257 0.68501
Support levels: 0.67595 0.67385
Trading strategy: bearish below 0.60001, target 0.67595 0.67385
Alternative strategy: Bullish above 0.60001, target 0.68257 0.68501
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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