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AUDUSD: low multiple pull up

Fundamental analysis:

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:

Technical analysis:

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

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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