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AUDUSD: high volatility
2022-12-05
1169
Fundamental analysis:
The Australian dollar remained volatile around 0.68054 against the U.S. dollar. RBA Chairman Lowe: Australia's inflation expectations remain stable. So far, domestic spending has shown resilience to higher interest rates. The RBA's decision to reduce the pace of rate hikes reflects the lagged nature of monetary policy, which is likely to be longer this cycle. Our policies are aimed at slowing inflation, but at the same time not hurting the economy too much.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After a high-level and wide-range shock, it quickly pulled up after falling, and the upward momentum of bulls is still there. In the short term, it may be entangled in high-level consolidation.
Long-short turning point: 0.68038
Suppression: 0.68312, 0.68492
Support: 0.67872, 0.67668
Trading strategy: Bullish above 0.68038, target 0.68312, 0.68492
Alternative strategy: bearish below 0.68038, target 0.67872, 0.67668
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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