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AUDUSD: Low level oscillation moves down

Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.67014. In August, Australia's full-time employed population increased by 33500, while the employment participation rate increased by 0.2 percentage points to 66.6%, and the unemployment rate rose slightly to 3.5%; The data confirmed the continuing tension in the Australian job market, providing support for the Federal Reserve of Australia to further raise interest rates in the coming months.

AUDUSD AUDUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the short selling momentum will continue to settle after the shock and decline. The short-term short selling sentiment may continue, and the market as a whole is still in a weak position. The MACD indicator is in the short selling area to maintain consolidation, and the RSI indicator is in a weak position below the 50 equilibrium line;

Empty turning point: 0.67117

Pressing position: 0.67286, 0.67488

Support position: 0.66837, 0.66680

Trading strategy: bearish at 0.67117, target 0.66837, 0.66680

Alternative strategy: bullish above 0.67117, target 0.67286, 0.67488

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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