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AUDUSD: high move up
2023-06-14
748
Fundamental analysis:
The Australian dollar remained volatile around 0.67688 against the US dollar. The National Australia Bank's May business survey showed a sharp decline in all survey areas, including employment, and confidence entered negative territory. That could be a reason to pause rate hikes in July and wait for the latest inflation data in August.
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, the market is still bullish, the short-term bullish momentum continues to rise, the MACD indicator is in the bullish zone and the RSI indicator is in the bullish zone and continues to linger;
Resistance levels: 0.67896 0.67102
Support levels: 0.67328 0.67113
Trading strategy: Bullish above 0.67570, target 0.67896 0.67102
Alternative strategy: bearish below 0.67570, target 0.67328 0.67113
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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