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AUDUSD: Low level wide amplitude oscillation

2022-10-18
1073
Fundamental analysis:

The Australian dollar remained volatile against the US dollar at 0.62887. The Pilbara Port Authority (PPA) of Australia said that the iron ore export volume of Danpil Port in Australia was 12.0293 million tons in September and 12.4365 million tons in August, a month on month decrease of 407200 tons.



AUDUSD AUDUSD - 4-hour K line chart shows:





Technical analysis:


The 4-hour chart shows that the low position will maintain a wide range of shocks in the short term, the bull power has signs of waiting for an opportunity to enter the field and move up, the MACD indicator will maintain sorting and move up, and the RSI indicator will be in a weak position near the 50 equilibrium line;


Empty turning point: 0.62817


Pressing: 0.63326, 0.63632


Support: 0.62484, 0.62226


Trading strategy: bullish above 0.62817, target 0.63326, 0.63632


Alternative strategy: 0.62817 bearish, target 0.62484, 0.62226

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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