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AUDUSD: low short-term recovery
2022-09-08
1021
Fundamental analysis:
The Australian dollar fluctuated around 0.67678 against the US dollar. Australia's GDP data for the second quarter is expected to show that the economy is in good shape. Despite the sharp rise in interest rates, consumer spending still drives economic activities to a large extent.
AUDUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short power continued to fluctuate downward, the low short-term shock rebounded, the market's long power showed signs of waiting for an opportunity to enter, the MACD indicator remained in the short area and remained in shock, and the RSI indicator remained in the short area and moved upward to hover near the 50 equilibrium line;
Long short turning point: 0.67574
Pressing position: 0.67923, 0.67141
Support position: 0.67361, 0.67126
Trading strategy: bullish above 0.67574, targeting 0.67923, 0.67141
Alternative strategy: bearish below 0.67574, target 0.67361, 0.67126
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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