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AUDUSD: Bulls gain ground

Fundamental analysis:
The Australian dollar remained volatile near 0.67800 against the US dollar. Australian Prime Minister Albanese said that although some countries have taken measures such as requiring new crown testing, Australia will not currently change its entry regulations for passengers from China.

Australian dollar AUDUSD - 4-hour K-line chart shows:

Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls is rising rapidly, short-term bullish sentiment is emerging, the market bulls are pulling up strongly, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line;
Long-short turning point: 0.67702
Suppression: 0.67955, 0.68128
Support: 0.67519, 0.67355
Trading strategy: Bullish above 0.67702, target 0.67955, 0.68128
Alternative strategy: bearish below 0.67702, target 0.67519, 0.67355

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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