AUDUSD: low up

The Australian dollar remained volatile around 0.69138 against the U.S. dollar. Australia prohibits people from embezzling retirement funds in advance, and the legislation stipulates that they can only be used for pensions. During the epidemic, the former Coalition Party government introduced a policy that allowed people to withdraw retirement funds in advance to cope with the decline in income, resulting in about A$36 billion of Australian retirement savings has been withdrawn early.

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

Looking at the 4-hour chart: the momentum of low-level bulls remains volatile and upward, short-term bullish sentiment emerges, the bulls in the market continue to climb, the MACD indicator is in the short-selling area, and the RSI indicator is hovering weakly above the 50 balance line;

Long-short turning point: 0.69036

Suppression: 0.69323, 0.69549

Support: 0.68796, 0.68597

Trading strategy: Bullish above 0.69036, target 0.69323, 0.69549

Alternative strategy: bearish below 0.69036, target 0.68796, 0.68597