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AUDUSD: Low level wide amplitude oscillation

Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.66874. The Federal Reserve of Australia was prepared to raise interest rates again to curb high inflation, but it believed that with interest rates approaching a more normal level, it was reasonable to slow down the pace of interest rate increases.

AUDUSD AUDUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the low position fluctuates widely in the short term, the market bears remain, and the weak position has not been changed in the short term. The MACD indicator remains in the short position area, and the RSI indicator remains in the weak position below the 50 equilibrium line;

Empty turning point: 0.66901

Pressing position: 0.67079, 0.67252

Support position: 0.66700, 0.66530

Trading strategy: bearish at 0.66901, target 0.66700, 0.66530

Alternative strategy: bullish above 0.66901, target 0.67079, 0.67252

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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