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AUDUSD: high position up
2022-11-08
1143
Fundamental analysis:
The AUD/USD remained volatile at 0.64780. It is expected that the Federal Reserve of Australia will further raise interest rates by 25 basis points in December, and then end the interest rate raising cycle, with the terminal interest rate at 3.1%. However, the Federal Reserve of Australia is still expected to cut interest rates in the second half of 2023, and it is expected to cut interest rates by 50 basis points in the fourth quarter of 2023.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the strong shock and rise of the bull power, the high shock and rise again, and the market bullish sentiment remains. The early high is close at hand, and the break is imminent. The MACD index is in the bull region and continues to move up, while the RSI index is in the 50 balanced online side;
Empty turning point: 0.64641
Pressing: 0.64991, 0.65224
Support: 0.64419, 0.64168
Trading strategy: 0.64641 is bullish, and the targets are 0.64991 and 0.65224
Alternative strategy: 0.64641 lower bearish, target 0.64419, 0.64168
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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