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AUDUSD: bull surge

2022-11-11
1237
Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.66257. The global economy and commodity prices are the key determinants of the Australian dollar's poor performance in the near future, which should affect the medium-term prospects. The market's expectation of global growth recovery in 2023 should help the Australian dollar strengthen.



AUDUSD AUDUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum has risen rapidly, the short-term bullish mood is shrouded, the market bulls have continued to climb, the MACD index has continued to move up in the bulls' region, and the RSI index has maintained high consolidation in the bulls' region;


Empty turning point: 0.66135


Pressing: 0.66470, 0.66683


Support: 0.65901, 0.65626


Trading strategy: bullish above 0.66135, target 0.66470, 0.66683


Alternative strategy: 0.66,135 lower bearish, target 0.65,901, 0.65,626

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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