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AUDUSD: consolidation of low position and weak position
2022-10-13
1133
Fundamental analysis:
The AUD/USD remained volatile at 0.62759. Australia's neutral interest rate was at least 2.5%, but it was not the only determinant of the policy. The policy should be driven by changing economic conditions. Neutral interest rate is a moving target, which is difficult to determine at any stage, which limits its role in monetary policy.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short positions has kept moving downward, the short-term weak position of low positions has been sorted out, the market short position mood continues to be shrouded, the MACD index is in the low position weak position sorting of short positions, and the RSI index is in the narrow range shock below the 50 equilibrium line;
Empty turning point: 0.62817
Pressing: 0.63030, 0.63326
Support: 0.62484, 0.62226
Trading strategy: 0.62817 lower bearish, target 0.62484, 0.62226
Alternative strategy: bullish above 0.62817, target 0.63030, 0.63326
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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