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AUDUSD: down the ladder
2023-02-20
950
Fundamental analysis:
The Australian dollar remained volatile around 0.68814 against the US dollar. RBA Chairman Lowe: It will take 18-24 months for interest rate hikes to have an impact on the economy, and the impact of the tightening cycle will continue until 2024. If we need to slow down the pace of interest rate hikes, we will do so Do, will reassess the economic situation in a few weeks.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are oscillating downward in a stepwise manner, and the short-term lows have rebounded, and the market is bullish, but the downward trend remains. The MACD index is in the short area and maintains consolidation, and the RSI index is oscillating below the 50 balance line;
Long-short turning point: 0.68890
Suppression: 0.69103, 0.69323
Support: 0.68597, 0.68419
Trading strategy: bearish below 0.68890, target 0.68597, 0.68419
Alternative strategy: Bullish above 0.68890, target 0.69103, 0.69323
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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