The Aussie dollar fluctuated around 0.68400 against the US dollar. The RBA will further increase interest rates in the near future, but the rate increase will slow down, which will depress the Aussie dollar. The Australian dollar faces downside risk against the US dollar. It is expected that the Australian dollar will weaken by the end of 2022, and then rebound as 2023 progresses.
AUDUSD - 4-hour K-line chart shows:
According to the 4-hour chart, the low-end Bulls' momentum maintained a choppy rise, short-term bullish sentiment began to emerge, the MACD index moved upward on the 0 axis, and the RSI index was in the 50 equilibrium line;
Long short turning point: 0.68295
Pressing position: 0.68620, 0.68839
Support position: 0.68053, 0.67828
Trading strategy: bullish above 0.68295, targeting 0.68620, 0.68839
Alternative strategy: bearish below 0.68295, target 0.68053, 0.67828