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AUDUSD: High level vibration moves down

2022-11-02
604
Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.63,937. The Australian Federal Reserve's interest rate was determined to be 2.85% by November 1, expected to be 2.85%, up from 2.60% previously,

The rate increase was in line with market expectations.



AUDUSD AUDUSD - 4-hour K line chart shows:





Technical analysis:


The 4-hour chart shows that: the power of high short positions started to settle after the shock. The market short positions remain in the same mood and continue to move downward in the short term. The MACD indicator hovers around the 0 axis and the RSI indicator is at the lower side of the 50 equilibrium line;


Empty turning point: 0.64012


Pressing: 0.64243, 0.64447


Support: 0.63696, 0.63459


Trading strategy: bearish at 0.64012, target 0.63696, 0.63459


Alternative strategy: bullish above 0.64012, target 0.64243, 0.64447

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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