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AUDUSD: high order
2023-01-26
935
Fundamental analysis:
AUD/USD remained oscillating around 0.71073, Australian Bureau of Statistics: Australia's CPI annual rate in the fourth quarter recorded 7.8%, the highest level since 1990, in the past four quarters, against the backdrop of rising prices for food, auto fuel and new residential construction , CPI showed a strong quarterly increase. Average annual inflation, which strips out sharp price swings, rose to 6.9%, the highest since the series was first published in 2003.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a shock upward movement, the short-term highs fluctuate within a narrow range, the market is still bullish, the MACD indicator is at a high level in the bullish zone and the RSI indicator is hovering at a high level in the bullish zone;
Long-short turning point: 0.70967
Suppression: 0.71244, 0.71436
Support: 0.70768, 0.70555
Trading strategy: Bullish above 0.70967, target 0.71244, 0.71436
Alternative strategy: bearish below 0.70967, target 0.70768, 0.70555
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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