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AUDUSD: bullish shock
2023-07-12
762
Fundamental analysis:
The Australian dollar remained volatile around 0.66842 against the US dollar. The Australian consumer confidence index rose to 81.3, but it was still at a historical low; however, the business climate index rose to 9, showing the resilience of the Australian economy; Australian bond yields fell collectively, and the 10-year Australian bond The yield fell 8 basis points to 4.195%.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a narrow range of fluctuations and slowly goes upwards, the market’s bullish sentiment continues, and there is a trend of continuing to fluctuate and move upwards in the short term. The MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly oscillating above the 50 balance line;
Resistance levels: 0.66964 0.67100
Support levels: 0.66663 0.66527
Trading strategy: Bullish above 0.66791, target 0.66964 0.67100
Alternative strategy: bearish below 0.66791, target 0.66663 0.66527
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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