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AUDUSD: low shock down
2022-08-31
1025
Fundamental analysis:
The AUD / USD fluctuated around 0.68467. The latest monthly retail sales rate of Australia recorded 1.3% after the July quarter adjustment, which was significantly better than the previous value of 0.2% and the forecast value of 0.3%, indicating that despite the soaring inflation and the price pressure of 6.1%, its overall economic demand is still accelerating.
AUDUSD AUDUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the low-level weakness fluctuates widely, the short-term decline may continue, the market short sentiment continues, the MACD index is at the lower side of the 0 axis, and the RSI index is at the lower side of the 50 equilibrium line;
Long and short turning point: 0.68591
Pressing position: 0.68801, 0.69010
Support position: 0.68273, 0.68080
Trading strategy: bearish below 0.68591, target 0.68273, 0.68080
Alternative strategy: bullish above 0.68591, target 0.68801, 0.69010
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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