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AUDUSD: Low position narrow range finishing
2022-10-06
1072
Fundamental analysis:
The Australian dollar remained volatile against the US dollar at 0.64817. The market trend reflected that the expected peak value of Australia's benchmark interest rate fell from more than 4% to slightly higher than 3.5%. The performance of the Australian dollar was indeed not good, but given the huge change in the view of the benchmark interest rate, its performance was relatively moderate.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
From the 4-hour chart, we can see that the low level short-term wide range shocks and shifts, the market bulls are in a state of anxiety, and no final direction guidance has been given. The MACD index is weak around the 0 axis, and the RSI index is narrow near the 50 equilibrium line;
Empty turning point: 0.64977
Pressing: 0.65253, 0.65556
Support: 0.64579, 0.64289
Trading strategy: 0.64977 bearish, target 0.64579, 0.64289
Alternative strategy: bullish above 0.64977, target 0.65253, 0.65556
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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