The Australian dollar remained volatile near 0.64796 against the US dollar, and the selling of the Australian dollar continued. AUD sell-off intensifies as U.S.-China economic disagreement persists. The Chinese economy is shrinking as the slowdown continues.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish dynamics are oscillating upwards, short-term bullish sentiment emerges, the bulls in the market continue to pull up, the MACD indicator is in the bullish area and fluctuates upward, and the RSI indicator is on the side of the 50 balance line;
Resistance levels: 0.64952 0.65104
Support levels: 0.64550 0.64383
Trading strategy: Bullish above 0.64717, target 0.64952 0.65104
Alternative strategy: bearish below 0.64717, target 0.64550 0.64383