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AUDUSD: low short moves down

2022-09-07
437
Fundamental analysis:

The Aussie dollar remained volatile around 0.67332 against the US dollar. The RBA decided to increase interest rates by 50 basis points to 2.35%, the fourth consecutive increase of 50 basis points. Interest rates will be further increased in the future.


AUDUSD - 4-hour K-line chart shows:





Technical analysis:


According to the 4-hour chart, the short-term decline of the low-end market has not stopped and has broken new lows repeatedly. The MACD index is in the short-end region, and the RSI index is in the lower side of the 50 equilibrium line;


Long and short turning point: 0.67415


Pressing position: 0.67592, 0.67807


Support position: 0.67126, 0.66910


Trading strategy: bearish below 0.67415, target 0.67126, 0.66910


Alternative strategy: bullish above 0.67415, target 0.67592, 0.67807

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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