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AUDUSD: low order

2023-03-28
795
Fundamental analysis:

The Australian dollar remained volatile around 0.66522 against the U.S. dollar. The Australian Green Party will support the Labor Party's key climate policy – the safeguard mechanism bill was passed in Parliament; the presidents of Australia's three major iron ore miners visited China for the first time in three years, saying that China's post-epidemic recovery will continue to promote demand for commodities.

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



Brief technical analysis:

4-hour chart: In the short term, the balance is maintained, and the market bearish sentiment begins to emerge and then weakens, but it is still in a weak position. The MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line.

Resistance levels: 0.66664 0.66787

Support levels: 0.66380 0.66271

Trading strategy: bearish below 0.66548, target 0.66380 0.66271
Alternative strategy: Bullish above 0.66548, target 0.66664 0.66787

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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