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AUDUSD: Low level oscillation downward
2022-10-10
1111
Fundamental analysis:
The AUD/USD remained volatile at 0.63661. The Federal Reserve of Australia said in its semi annual financial stability assessment that some families have felt the pressure brought by rising interest rates and inflation, and this situation may continue for some time. The Federal Reserve of Australia has raised interest rates six times in a row since May.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the shock of the low and narrow range, the bearish power finally ushered in a downward trend, and the market bearish mood was shrouded. The MACD index remained weak and moved downward in the bearish area, and the RSI index remained weak and hovered below the 50 equilibrium line;
Empty turning point: 0.63765
Pressing: 0.64006, 0.64214
Support: 0.63392, 0.63141
Trading strategy: bearish at 0.63765, target 0.63392, 0.63141
Alternative strategy: bullish above 0.63765, target 0.64006, 0.64214
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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