AUDUSD: low narrow range oscillation

Fundamental analysis:

The Australian dollar fluctuated around 0.67498 against the U.S. dollar. Robert Lowe, chairman of the Federal Reserve of Australia, said that inflation expectations are consistent with inflation targets, and further interest rate hikes will be required, but not according to the preset path. With the rise of cash interest rates, the possibility of interest rate hikes slowing down will increase. However, how high and how fast interest rates need to rise will depend on data, inflation prospects and the labor market.

AUDUSD - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, the short power maintains the downward oscillation, the low narrow range oscillation shifts, the short-term decline begins to weaken, the MACD indicator is in the low weak upward trend of the short area, and the RSI indicator is hovering below the 50 equilibrium line;

Long short turning point: 0.67574

Pressing position: 0.67834, 0.68141

Support position: 0.67261, 0.67018

Trading strategy: bearish below 0.67574, target 0.67261, 0.67018

Alternative strategy: bullish above0. 67574, target 0.67834, 0.68141