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AUDUSD: low volatility

2023-04-28
858
Fundamental analysis:

AUD/USD remains oscillating around 0.66322, ANZ expects FOMC to raise interest rates by 25 basis points next week, which will keep the upper end of the target range of the federal funds rate at 5.25%, the effective federal funds rate and the value of the dot plot (and the end of 2023 ) 5.10% remain the same.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term lows fluctuate within a narrow range, and the bulls have signs of waiting for an opportunity to enter the market. The MACD indicator is in the bearish area and gradually moves up, and the RSI indicator gradually moves up to the side of the 50 balance line;

Resistance levels: 0.66436 0.66550

Support levels: 0.66159 0.66042

Trading strategy: Bullish above 0.66270, target 0.66436 0.66550
Alternative strategy: bearish below 0.66270, target 0.66159 0.66042

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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