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AUDUSD: low move down

Fundamental analysis:

The Australian dollar remained volatile near 0.69069 against the U.S. dollar. The seasonally adjusted wage price index in Australia in the fourth quarter rose by 3.3% year-on-year, lower than the expected 3.5%, but still at the fastest level since December 2012; The key labor market indicators and the volume of job advertisements will gradually slow down, and the peak of recruitment has passed.

Australian dollar AUDUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and move downwards, the short-term decline has not stopped, the market's short-term sentiment continues to emerge, the MACD indicator is in the short-selling area and slowly descending, and the RSI indicator is in the short-selling area to maintain consolidation;

Long-short turning point: 0.68127

Suppression: 0.68272, 0.68413
Support: 0.67932, 0.67796

Trading strategy: bearish below 0.68127, target 0.67932, 0.67796
Alternative strategy: Bullish above 0.68127, target 0.68272, 0.68413

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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