The Australian dollar remained volatile against the US dollar at 0.63991. The Federal Reserve of Australia is expected to raise interest rates by 25 basis points to 2.85% on Tuesday. However, the high inflation data in the third quarter released last week may force the central bank president and the policy committee to discuss raising interest rates by 50 basis points.
AUDUSD AUDUSD - 4-hour K line chart shows:
The 4-hour chart shows that the high level shock retreats downward, and the short-term short position power shows signs of continuing to move downward. The short position power of the MACD indicator keeps the shock downward and hovers near the 0 axis, and the RSI indicator is arranged below the 50 equilibrium line;
Empty turning point: 0.64072
Pressing: 0.64296, 0.64540
Support: 0.63755, 0.62538
Trading strategy: 0.64072 lower bearish, target 0.63755, 0.62538
Alternative strategy: bullish above 0.64072, target 0.64296, 0.64540