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AUDUSD: High level vibration

Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.65043. The index of Australian consumer confidence dropped 6.9% in November, down nearly 26% year on year. The index of 78.0 means that the number of pessimists far exceeds that of optimists and returns to the lowest point since the beginning of the epidemic. The prospect of household finance and economy has been overshadowed by rising interest rates and soaring inflation, although actual expenditure data have not yet been released.

AUDUSD AUDUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the power of high bulls continues to fluctuate and rise. The short-term high is blocked and sorted out. The market is still bullish and continues to climb in the short term. The MACD index is in the long region and moves up, while the RSI index hovers above the 50 equilibrium line;

Empty turning point: 0.64954

Pressing: 0.65292, 0.65495

Support: 0.64706, 0.64451

Trading strategy: bullish above 0.64954, target 0.65292, 0.65495

Alternative strategy: 0.64954 bearish, target 0.64706, 0.64451

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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