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AUDUSD: low volatility

2023-03-12
831
Fundamental analysis:

The Australian dollar remained volatile around 0.65864 against the U.S. dollar. RBA Chairman Philip Lowe said the RBA is "open" to the timing of interest rate hikes and will pay close attention to data performance.

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



Brief technical analysis:

Looking at the 4-hour chart: low short-term fluctuations within a narrow range, the market as a whole maintains a low-level and wide-range trend, and there is no sign of weakness in the short term. The MACD indicator is in the bearish area and continues to move up, and the RSI indicator is hovering below the 50 balance line;

Resistance levels: 0.66155 0.66332

Support levels: 0.65694 0.65521

Trading strategy: bearish below 0.63959, target 0.65694 0.65521
Alternative strategy: Bullish above 0.63959, target 0.66155 0.66332

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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