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AUDUSD: high rise
2023-06-16
749
Fundamental analysis:
The Australian dollar remained volatile around 0.68871 against the US dollar. Australia’s employment population increased more than expected in May, while the unemployment rate fell slightly, and the employment participation rate rose to a record high. This unusually strong employment report will put pressure on the central bank to further raise interest rates.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bulls have a strong shock and rise, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is at a high level, and the RSI indicator is hovering at a high level in the bullish area;
Resistance levels: 0.69128 0.69385
Support levels: 0.68509 0.68266
Trading strategy: Bullish above 0.68751, target 0.69128 0.69385
Alternative strategy: bearish below 0.68751, target 0.68509 0.68266
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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