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AUDUSD: High level shock pullback
2022-10-28
1078
Fundamental analysis:
The Australian dollar remained volatile against the US dollar at 0.64498. Australia's export price index fell 3.6% month on month in the third quarter, a lower decline than expected by 6.5%; Australia's import price index rose 3% month on month in the third quarter, higher than the expected 0.8%.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions remains volatile and retreats, and there are signs of retreating and moving downward as a whole. The MAFCD index is at the high level in the long regions, and the RSI index is at the 50 equilibrium line, and the market is weak;
Empty turning point: 0.64606
Pressing: 0.64882, 0.65126
Support: 0.64230, 0.64012
Trading strategy: bearish at 0.64606, target 0.64230, 0.64012
Alternative strategy: bullish above 0.64606, target 0.64882, 0.65126
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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