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AUDUSD: high move up
2023-06-09
739
Fundamental analysis:
The Australian dollar remained volatile around 0.67184 against the US dollar. Australia will raise interest rates by 25 basis points, raising the peak interest rate to 4.35%. Australia’s April goods and services trade account was 11.16 billion Australian dollars, far below the expected 14 billion Australian dollars.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bullish momentum remains volatile and upward, and the market is still bullish. In the short term, there will be a trend of high-speed movement under continuous shocks. The MACD indicator is in the long-term zone and the RSI indicator is in the long-term zone and gradually goes up;
Resistance levels: 0.67345 0.67500
Support levels: 0.66934 0.66784
Trading strategy: Bullish above 0.67095, target 0.67345 0.67500
Alternative strategy: bearish below 0.67095, target 0.66934 0.66784
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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