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AUDUSD: low order

2023-05-28
746
Fundamental analysis:

The Australian dollar remained volatile around 0.65215 against the US dollar. Hua Yuan, deputy mayor of Shanghai, met with the Australian ambassador to China, Fu Guanhan, at the municipal government, and introduced the economic and social development of Shanghai to the ambassador, as well as the areas of further cooperation and exchanges between Shanghai and Australia in the future.

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



Brief technical analysis:

Looking at the 4-hour chart: After the short momentum continued to go down and down, the low level fluctuated within a narrow range, the market as a whole was in a weak position, the MACD indicator was in the short position, and the RSI indicator fluctuated at a low level and slowly went up;

Resistance levels: 0.65403 0.65570

Support levels: 0.64920 0.64740

Trading strategy: Bullish above 0.65135, target 0.65403 0.65570
Alternative strategy: bearish below 0.65135, target 0.64920 0.64740

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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