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AUDUSD: low move up

2023-03-02
868
Fundamental analysis:

The Australian dollar remained volatile near 0.67568 against the US dollar. Australia's fourth-quarter GDP data was weaker than expected, but there are some factors in the details that may allow the RBA to continue raising interest rates. The RBA will continue to focus on labor costs, which are accelerating.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum remains volatile and upward, the short-term bullish sentiment remains, the market as a whole is bullish, the MACD indicator is in the bearish area and continues to rise, and the RSI indicator is hovering weakly near the 50 balance line;

Long-short turning point: 0.67467

Suppression: 0.67737, 0.67937
Support: 0.67254, 0.67086

Trading strategy: Bullish above 0.67467, target 0.67737, 0.67937
Alternative strategy: bearish below 0.67467, target 0.67254, 0.67086

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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