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AUDUSD: High level lifting

Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.67346. Boosted by unexpected income from soaring commodity prices, Australia's budget deficit in fiscal year 2023 will be less than half the level expected by the previous government in March. Data released on Tuesday showed that the potential cash deficit would be A $36.9 billion by June 2023.

AUDUSD AUDUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the bulls' power has risen strongly at a high level, short-term bullish sentiment has emerged, and the market bulls have a further upward trend. The MACD index moves upward on the upper side of the 0 axis, and the RSI index is arranged in the bulls' area;

Empty turning point: 0.67200

Pressing: 0.67,623, 0.67,885

Support: 0.66938, 0.66653

Trading strategy: bullish above 0.67200, target 0.67623, 0.67885

Alternative strategy: bearish at 0.67200, with targets of 0.66938 and 0.66653

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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