Because the Fed is so focused on containing inflation, it will likely keep raising rates until the U.S. economy slips into recession, said Bank of America analyst Mark Cabana. The Fed has become very hawkish as the labor market strengthens. Unless the labor market also slows sharply, the Fed may not believe that inflation has cooled, and it looks set to cool the labor market. .
AUDUSD AUDUSD daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate plummeted and weakened, the MACD was running below the 0-axis and the volume was slightly increased, and the RSI fell rapidly. It is expected that the exchange rate will likely fall further.
Long-short turning point: 0.7030
Suppression bit: 0.7200 0.7400
Support level: 0.6850 0.6650
Trading strategy: bearish below 0.7030, target 0.6850, 0.6650
Alternative strategy: bullish above 0.7030, target 0.7200, 0.7400