The Australian dollar remained volatile around 0.64127 against the US dollar. The Commonwealth Bank of Australia (CBA) reported that the Australian dollar will continue to underperform this week, and it is believed that the possibility of the Australian dollar falling below $0.60 before the end of the year is increasing. Reversing the decline will likely require massive stimulus from major Asian governments, focused on commodity-intensive infrastructure spending.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: In the short term, the market remains weak and weak, and the market is shrouded in bearish sentiment. In the short term, there are signs of continuing to maintain a weak and hovering trend.
Resistance levels: 0.64376 0.64555
Support levels: 0.63957 0.63790
Trading strategy: bearish below 0.64191, target 0.63957 0.63790
Alternative strategy: Bullish above 0.64191, target 0.64376 0.64555