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AUDUSD: low position narrow finishing moves down

2022-09-06
452
Fundamental analysis:

The Aussie dollar remained volatile around 0.67022 against the US dollar. It would be a hawkish tendency to pay attention to the recent rise in inflation pressure or not to mention keeping the economy "stable". It is expected that the RBA will raise interest rates by 50 basis points on Tuesday, and may make the last paragraph of the meeting statement very close to that of August.


AUDUSD - 4-hour K-line chart shows:





Technical analysis:


According to the 4-hour chart, the market's short sentiment continued to fluctuate downward, and the low-level short-term narrow range was reorganized, but the downward trend was good. MACD index maintained weak consolidation in the short area, and RSI index hovered narrowly below the 50 equilibrium line;


Long and short turning point: 0.67913


Pressing position: 0.68169, 0.68434


Support position: 0.67653, 0.67473


Trading strategy: bearish below 0.67913, target 0.67653, 0.67473


Alternative strategy: bullish above 0.67913, target 0.68169, 0.68434

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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