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AUDUSD: low move down

2023-05-24
777
Fundamental analysis:

AUD/USD remained volatile around 0.66115. The market's attitude towards the US Federal debt ceiling issue has changed from previous optimism to caution. The current trend of risky currencies such as the Australian dollar is also quite narrow.

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



Brief technical analysis:

Looking at the 4-hour chart: The low-level short-term dynamics maintain shocks and move downwards, and the short-term bearish sentiment is shrouded, and the market continues to move downwards. The MACD indicator is in a weak order below the 0 axis, and the RSI indicator is in a weak order below the 50 balance line;

Resistance levels: 0.66327 0.66475

Support levels: 0.66005 0.65905

Trading strategy: bearish below 0.66186, target 0.66005 0.65905
Alternative strategy: Bullish above 0.66186, target 0.66327 0.66475

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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