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AUDUSD: low move down
2023-08-02
710
Fundamental analysis:
The Australian dollar remained volatile around 0.66122 against the US dollar. The RBA suspended interest rate hikes for the second time in a row and kept the benchmark interest rate at 4.1%, the highest level since 2012. The market expects a 25 basis point rate hike.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has moved down, and the short-term decline may continue. The MACD indicator is in the short-term area to maintain consolidation, and the RSI indicator is in the short-term area. Shock;
Resistance levels: 0.66375 0.66542
Support levels: 0.65930 0.65743
Trading strategy: bearish below 0.66208, target 0.65930 0.65743
Alternative strategy: Bullish above 0.66208, target 0.66375 0.66542
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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