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AUDUSD: low short-term reversal upward

Fundamental analysis:

The Aussie dollar remained volatile against the US dollar at 0.66444. The 75 basis point interest rate hike by the Federal Reserve this week has been fully digested. The 100 basis point interest rate hike will be a more direct positive result for the US dollar, because it will force the market to consider whether other central banks can really keep up with such an amazing rate hike by the Federal Reserve.

AUDUSD AUDUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the bearish momentum has maintained a volatile downward trend, and the low short-term reversal has pulled up. The market bull sentiment has begun to show signs of slow entry. The MACD indicator is in the low consolidation of the short region, while the RSI indicator is in the upward consolidation of the short region;

Empty turning point: 0.66359

Pressing position: 0.66673, 0.66946

Support position: 0.66108, 0.65897

Trading strategy: bullish above 0.66359, target 0.66673, 0.66946

Alternative strategy: bearish at 0.66359, target 0.66108, 0.65897

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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