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AUDUSD: finishing down

2023-04-23
824
Fundamental analysis:

AUD/USD remained volatile around 0.66870, the possibility of a recession in Australia is low, coupled with the hawkish tone of the minutes of the RBA’s April meeting, and optimistic Chinese macroeconomic data, these are currently the factors that support the Australian dollar from falling sharply .

Australian dollar AUDUSD - 4-hour K-line chart shows:



Brief technical analysis:

The 4-hour chart: short-term short-term decline weakened after a sharp decline, but the market’s short-term sentiment is still there. The MACD index is hovering below the 0 axis, and the RSI index is below the 50 balance line.

Resistance levels: 0.67038 0.67133

Support levels: 0.66751 0.66663

Trading strategy: bearish below 0.66935, target 0.66751 0.66663
Alternative strategy: Bullish above 0.66935, target 0.67038 0.67133

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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