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AUDUSD: low volatility
2023-03-07
862
Fundamental analysis:
The Australian dollar remained volatile around 0.67301 against the US dollar, and China's "relatively modest" 5% GDP growth target is not good for Australian exports, as it suggests that China is unlikely to implement large-scale stimulus measures;
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low level is fluctuating within a narrow range, and the market’s bearish sentiment has begun to emerge slowly. In the short term, it may be entangled in a weak order at a low level.
Resistance levels: 0.67514 0.67662
Support levels: 0.67175 0.67031
Trading strategy: bearish below 0.67360, target 0.67175 0.67031
Alternative strategy: Bullish above 0.67360, target 0.67514 0.67662
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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