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AUDUSD: Low level wide amplitude oscillation

2022-10-07
1039
Fundamental analysis:

The AUD/USD remained volatile near 0363965. Australia's trade surplus in August was AUD8.3 billion, slightly lower than expected. It also declined in July, indicating that the era of record trade surplus may have ended.




AUDUSD AUDUSD - 4-hour K line chart shows:





Technical analysis:


The 4-hour chart shows that the low position maintains a wide range of shocks in the short term. Short term bearish power shows signs of waiting for an opportunity to enter the market, and the low position is weak. The MACD index hovers below the axis 0, and the RSI index is weak at the bottom of the 50 equilibrium line;


Empty turning point: 0.64064


Pressing: 0.64325, 0.64608


Support: 0.63686, 0.63392


Trading strategy: bearish at 0.64064, target 0.63686, 0.63392


Alternative strategy: bullish above 0.64064, target 0.64325, 0.64608

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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