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AUDUSD: high volatility
2023-01-10
1097
Fundamental analysis:
AUD/USD remained volatile around 0.69110 as the market scaled back expectations for U.S. interest rate hikes and the opening of China's borders heralds an eventual recovery in Chinese demand. AUD/USD hit as high as 0.6925, a new high since August 31. China's decision to ease restrictions on Australian coal imports has further boosted the boost from the reopening of the Chinese economy.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the bullish momentum has risen rapidly, it fluctuates at a high level, and it is at a high level in the short term, but the market is still bullish, the MACD indicator is in the bullish zone, and the RSI indicator is hovering in the bullish zone;
Long-short turning point: 0.68746
Suppression: 0.63309, 0.69530
Support: 0.68746, 0.68536
Trading strategy: Bullish above 0.68746, target 0.63309, 0.69530
Alternative strategy: bearish below 0.68746, target 0.68746, 0.68536
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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