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AUDUSD: low order

2023-03-01
894
Fundamental analysis:

The Australian dollar remained volatile near 0.67310. Australia’s seasonally adjusted retail sales in January rose by 1.9% month-on-month, exceeding the expected 1.2%. The latest sign of an easing of Australia's coal ban.

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



Brief technical analysis:

The 4-hour chart: the low position is weak and the market is still in a narrow range, and the market’s bearish sentiment remains. In the short term or entangled with the low position and weakness, the MACD indicator is in the short area to maintain a weak upward trend, and the RSI indicator is in the short area to maintain the order;

Long-short turning point: 0.67351

Suppression: 0.67563, 0.67737
Support: 0.67120, 0.66927

Trading strategy: bearish below 0.67351, target 0.67120, 0.66927
Alternative strategy: Bullish above 0.67351, target 0.67563, 0.67737

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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