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AUDUSD: high volatility
2023-01-18
1018
Fundamental analysis:
The Australian dollar remained volatile around 0.69807. The vacancy rate in Australia rose from 1% to 1.3% in December. Although it was only a seasonal fluctuation, the rent continued to rise. The rent in the capital city rose by 2.2% in December, and the annual increase was as high as 24.6%. Westpac Bank's consumer confidence index rose 5% to 84 points in January, with Australians less pessimistic about their financial situation and economic outlook in 2023.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: High short-term volatility, market bullish momentum began to weaken, short-term entanglement in high market volatility, MACD indicator is in the bullish area, RSI indicator is hovering above the 50 balance line;
Long-short turning point: 0.69807
Suppression: 0.70102, 0.70297
Support: 0.69502, 0.69375
Trading strategy: Bullish above 0.69807, target 0.70102, 0.70297
Alternative strategy: bearish below 0.69807, target 0.69502, 0.69375
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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