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AUDUSD: high move up
2023-06-15
746
Fundamental analysis:
The Australian dollar remained volatile near 0.67978 against the US dollar, with weak Australian business and consumer confidence survey data and China's move to cut key short-term interest rates all weighed on the Australian dollar.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bulls continue to oscillate and move up and then oscillate. There are signs of resistance in the short term, but the upward trend remains the same. The MACD indicator is in the bullish zone to maintain consolidation, and the RSI indicator is in the bullish zone.
Resistance levels: 0.68171 0.68359
Support levels: 0.67575 0.67328
Trading strategy: Bullish above 0.67836, target 0.68171 0.68359
Alternative strategy: bearish below 0.67836, target 0.67575 0.67328
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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