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AUDUSD: Huge earthquake down

2022-11-30
1199
Fundamental analysis:
The Australian dollar remained volatile around 0.66682 against the US dollar. ANZ expects house prices in Australia's seven capital cities to fall by 7% in 2022, and then fall further by 11% in 2023; ANZ internally believes that interest rates will reach a peak of 3.85% , compared to 2.85% before.

Australian dollar AUDUSD - 4-hour K-line chart shows:




Brief technical analysis:
Looking at the 4-hour chart: a short-term wide-range shock, the market’s bearish sentiment began to wait for an opportunity to enter the market, the MACD indicator hovered weakly near the 0 axis, and the RSI indicator was weakly organized near the 50 balance line;
Long-short turning point: 0.66902
Suppression: 0.67046, 0.67207
Support: 0.66670, 0.66482
Trading strategy: bearish below 0.66902, target 0.66670, 0.66482
Alternative strategy: Bullish above 0.66902, target 0.67046, 0.67207

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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