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AUDUSD: Bulls move up
2023-05-04
792
Fundamental analysis:
AUD/USD remained volatile around 0.66717, and interest rate traders again expected the RBA’s peak interest rate to be 3.85%, while yesterday’s RBA’s hawkish statement at this month’s meeting made traders prepare to raise their peak interest rate expectations to above 4%.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The bullish momentum maintains shocks and moves upwards, and then sorts out, and there is a trend of continuing to move upwards in the short term. The MACD indicator is in the bullish area to maintain consolidation, and the RSI indicator is hovering weakly above the 50 balance line;
Resistance levels: 0.66877 0.67052
Support levels: 0.66489 0.66337
Trading strategy: bullish above 0.66638, target 0.66877 0.67052
Alternative strategy: bearish below 0.66638, target 0.66489 0.66337
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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