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AUDUSD: low up

2023-05-30
725
Fundamental analysis:

The Australian dollar remained volatile around 0.65401 against the U.S. dollar. The market was full of panic, and the safe-haven buying of the U.S. dollar was still strong, putting pressure on the Australian dollar as a risk currency. If the dollar's safe-haven buying momentum fades, the Australian dollar may be able to further gain more room for a rebound.

Australian dollar AUDUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum continues to fluctuate and move upward, short-term bullish sentiment is emerging at a low level, and the short-term bullish momentum continues to move upward. The MACD indicator is in the bearish area and fluctuates upward, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 0.65570 0.65765

Support levels: 0.65090 0.64920

Trading strategy: Bullish above 0.65294, target 0.65570 0.65765
Alternative strategy: bearish below 0.65294, target 0.65090 0.64920

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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