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AUDUSD: low short position moves downward
2022-10-03
1080
Fundamental analysis:
The Australian dollar remained volatile against the US dollar at 0.64223. The Federal Reserve of Australia may further raise interest rates next Tuesday. According to a Reuters survey, 21 out of 29 economists believe that the Federal Reserve of Australia will raise interest rates by 50 basis points to 2.85%; Westpac Bank expects the Australian Federal Reserve to continue to raise interest rates until February 2023.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low position wide shock moves downward, the short-term bearish sentiment remains, the market weakness continues, the MACD indicator is at the lower side of the 0 axis, the short position area is narrow, and the RSI indicator is at the lower side of the 50 equilibrium line, the weak position hovers;
Empty turning point: 0.64362
Pressing position: 0.64648, 0.64903
Support position: 0.63930, 0.63628
Trading strategy: bearish at 0.64362, target 0.63930, 0.63628
Alternative strategy: bullish above 0.64362, target 0.64648, 0.64903
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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