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AUDUSD: high move up
2023-01-13
991
Fundamental analysis:
AUD/USD remains oscillating around 0.69704. November is an important month for the retail industry as it includes Black Friday and the start of the Christmas shopping season. For November, despite a year-on-year increase of 7.7%, it was the slowest pace of expansion since January 2022, suggesting that either retail transactions or inflation are beginning to ease.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term fluctuations within a narrow range, the bullish momentum has risen rapidly, the market is bullish, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone and continues to rise;
Long-short turning point: 0.69614
Suppression: 0.69907, 0.70106
Support: 0.69424, 0.69208
Trading strategy: Bullish above 0.69614, target 0.69907, 0.70106
Alternative strategy: bearish below 0.69614, target 0.69424, 0.69208
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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