AUDUSD: high down

Fundamental analysis:

The Australian dollar remained volatile around 0.66518 against the US dollar. Affected by the continued epidemic and concerns about the global demand outlook, international energy and iron ore prices fell. Australian retail sales fell by 0.2% month-on-month in October, the first month-on-month decline this year, and far below expected growth 0.5%, the head of retail statistics at the Australian Bureau of Statistics said rising cost-of-living pressures, including interest rate hikes, had begun to weigh on consumer spending.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum fluctuates downward at a high level, and the short-term decline may continue. The market as a whole is in a weak downward trend. The MACD index maintains the shock and moves down to near the 0 axis for consolidation, and the RSI index is hovering weakly below the 50 balance line;

Long-short turning point: 0.66630

Suppression: 0.66953, 0.67207

Support: 0.66253, 0.66014

Trading strategy: bearish below 0.66630, target 0.66253, 0.66014

Alternative strategy: Bullish above 0.66630, target 0.66953, 0.67207