AUDUSD: high order

Fundamental analysis:

The Australian dollar remained volatile around 0.68150 against the US dollar. The Reserve Bank of Australia tried to achieve a soft landing of the economy by slowing down the pace of policy tightening to highlight a higher tolerance for inflation. This is undoubtedly playing with fire. The Reserve Bank of Australia has cut interest rate hikes to 25 basis points and signaled its willingness to hold off on rate hikes to assess the impact of the move. The bank's comments come as Australian inflation is expected to peak at 8% this quarter and is not expected to return to the RBA's 2-3% target until 2025.

Australian dollar AUDUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is strong and rising, the high level continues to fluctuate upwards, short-term bullish sentiment emerges, the MACD indicator moves up from the high level in the bullish zone, and the RSI indicator hovers in the bullish zone;

Long-short turning point: 0.68077

Suppression: 0.67311, 0.68492

Support: 0.67872, 0.67668

Trading strategy: Bullish above 0.68077, target 0.67311, 0.68492

Alternative strategy: bearish below 0.68077, target 0.67872, 0.67668