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AUDUSD: High bit downlink

2022-11-01
573
Fundamental analysis:

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:





Technical analysis:


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

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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