AUD / USD fluctuated around 0.69968, and the growth of Australian retail sales in July was much higher than expected, but this did not help to prevent the Federal Reserve of Australia from further raising the official interest rate by 50 basis points next month. Sales in July increased by 1.3% and 16.5% year-on-year.
AUDUSD AUDUSD - 4-hour K-line chart shows:
According to the 4-hour chart, the short-term momentum maintains low volatility, the short-term support is reversed and moved upward, the market is weak at the bottom, the MACD index is weak at the lower side of the 0 axis, and the RSI index is narrow at the lower side of the 50 equilibrium line;
Long and short turning point: 0.69112
Pressing position: 0.39355, 0.69607
Support position: 0.68750, 0.68535
Trading strategy: bearish below 0.69112, target 0.68750, 0.68535
Alternative strategy: bullish above 0.69112, target 0.39355, 0.69607