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AUDUSD: Bulls gain ground
2023-07-09
732
Fundamental analysis:
The Australian dollar remained volatile around 0.66930 against the US dollar. U.S. bond yields collectively rose, and Australian bond yields also rose. The 10-year Australian bond yield rose 14 basis points to 4.256%, the highest level since 2014.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bulls are driving up strongly, the bullish sentiment in the market continues, and there is a trend of continuing to move upward in the short term. The MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly oscillating above the 50 balance line;
Resistance levels: 0.67077 0.67191
Support levels: 0.66715 0.66572
Trading strategy: Bullish above 0.66857, target 0.67077 0.67191
Alternative strategy: bearish below 0.66857, target 0.66715 0.66572
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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