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AUDUSD: Low shock

Fundamental analysis:

The Australian dollar remained volatile around 0.63745 against the U.S. dollar. Reserve Bank of Australia Chairman Lowe: The recent focus is on wage risk, with profits higher than interest rates consistent with the return to inflation targets. If wage risks materialize and inflation becomes persistent, tighter monetary policy will be required. Australia benefits from a flexible inflation target.

Australian Dollar USD AUDUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: In the short term, it remains low and weak and fluctuates, and the market is shrouded in bearish sentiment. In the short term, it will continue to consolidate and then move downward.

Resistance level: 0.63900 0.63991

Support level: 0.63648 0.63557

Trading strategy: bearish below 0.63796, target 0.63648 0.63557
Alternative strategy: Bullish above 0.63796, target 0.63900 0.63991

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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