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AUDUSD: high rise
2023-07-14
885
Fundamental analysis:
The Australian dollar remained volatile around 0.68872 against the U.S. dollar. The prospect of an end to tightening policy in the United States is considered to have reduced the pressure on domestic interest rate hikes. Currently, futures suggest that the possibility of the Reserve Bank of Australia (RBA) raising interest rates by 4.1% next month is only 37%.
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 upward momentum, the market is shrouded in bullish sentiment, and there is a trend of continuing to move upward in the short term. The MACD indicator is moving up from the high level in the bullish zone, and the RSI indicator is hovering near the 80 balance line in the bullish zone;
Resistance levels: 0.69056 0.69225
Support levels: 0.68610 0.68444
Trading strategy: Bullish above 0.68781, target 0.69056 0.69225
Alternative strategy: bearish below 0.68781, target 0.68610 0.68444
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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