AUDUSD: bull callback

Fundamental analysis:

After the release of optimistic employment and wage data this week, the expectation that the Australian Federal Reserve will raise interest rates again in December has given some support to the Australian dollar. Interest rate futures show that the probability of the Federal Reserve of Australia raising interest rates by 25 basis points to 3.10% in December is about 80%, which has largely abandoned the view that the central bank may actually suspend tightening policies. "

AUDUSD daily chart

Technical analysis:

From the daily chart, we can see that the short-term exchange rate is recovering. The MACD runs below the 0 axis, but the volume can shrink slightly. The RSI is weakening slightly. It is expected that the exchange rate probability will further rise after the settlement.  

Empty turning point: 0.6650

Pressing position: 0.6850 0.7050

Support position: 0.6450 0.6250

Trading strategy: bullish above 0.6650, target 0.6850, 0.7050

Alternative strategy: bearish below 0.6650, target 0.6450, 0.6250