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AUDUSD: low move up
2023-05-23
860
Fundamental analysis:
The Australian dollar remained volatile around 0.66544 against the US dollar. The New South Wales government plans to abolish land tax. All properties below 800,000 Australian dollars will not be subject to stamp duty. Properties below 1 million Australian dollars can also enjoy preferential treatment. The new policy may be implemented in July; Western Australian Premier Mark McGowan said Australia could and should maintain a good relationship with China.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level bullish momentum maintains a narrow range and slowly moves upward, the market bullish sentiment begins to emerge slowly, the short-term bullish momentum continues, the MACD indicator is weakly organized below the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 0.66661 0.66778
Support levels: 0.66336 0.66210
Trading strategy: Bullish above 0.66464, target 0.66661 0.66778
Alternative strategy: bearish below 0.66464, target 0.66336 0.66210
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