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AUDUSD: continued to fall
2023-03-16
923
Fundamental analysis:
AUD/USD remains volatile around 0.66209, and there is no obvious inflection point in Australia's quarterly CPI data, so there is little reason for the RBA to announce a pause in interest rate hikes in April. A premature pause may require the RBA to slam on the brakes in the second half of the economic cycle .
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum continues to fluctuate and fall, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bullish area and moves down to hover around the 0 axis, and the RSI indicator is in a weak order below the 50 balance line;
Resistance levels: 0.66404 0.66531
Support levels: 0.66078 0.65939
Trading strategy: bearish below 0.66256, target 0.66078 0.65939
Alternative strategy: Bullish above 0.66256, target 0.66404 0.66531
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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