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AUDUSD: high order
2023-01-27
930
Fundamental analysis:
The Australian dollar remained volatile around 0.71179 against the US dollar. The Australian dollar is expected to be supported by China's economic recovery, Australia's relatively strong economic growth and the possibility of tightening controls by the Federal Reserve. The latest data on consumer price inflation hit the highest level in 33 years, reigniting speculation that the Reserve Bank of Australia will continue to tighten policy at its next meeting.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The bullish momentum maintains a volatile pull-up, and the high level is short-term and narrow-range. The market is still bullish, and the short-term upward trend is good. The MACD indicator is in the regional high order, and the RSI indicator is hovering in the bullish zone;
Long-short turning point: 0.71083
Suppression: 0.71344, 0.71510
Support: 0.70932, 0.70768
Trading strategy: Bullish above 0.71083, target 0.71344, 0.71510
Alternative strategy: bearish below 0.71083, target 0.70932, 0.70768
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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