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AUDUSD: low move up

Fundamental analysis:

AUD/USD remained volatile around 0.66539, Australia announced additional sanctions and an export ban on Russia. Australia said sanctions targets included Rosneft and Northern Steel.

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

Brief technical analysis:

Looking at the 4-hour chart: The momentum of the low-level bulls keeps oscillating and moving upwards, short-term bullish sentiment emerges, the bulls in the market continue to rise, the MACD indicator is in the short-selling area to maintain consolidation, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance levels: 0.66649 0.66778

Support levels: 0.66336 0.66210

Trading strategy: Bullish above 0.66464, target 0.66649 0.66778
Alternative strategy: bearish below 0.66464, target 0.66336 0.66210

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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