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AUDUSD: low volatility
2023-04-30
749
Fundamental analysis:
AUD/USD remained volatile around 0.66165. The RBA will release an interest rate decision next week. According to a Reuters survey, the market expects the RBA to raise interest rates by 25 basis points to 3.85%. Westpac Bank, one of the four major banks in Australia, has changed its expectations , do not think there will be a rate hike next week.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term maintenance is low and wide-ranging. Although there are buying orders emerging at the low level, the downward trend of the market is still bearish. The MACD indicator is in the bearish area to maintain consolidation, and the RSI indicator is hovering below the 50 balance line;
Resistance levels: 0.66406 0.66550
Support levels: 0.66042 0.65880
Trading strategy: bearish below 0.66270, target 0.66042 0.65880
Alternative strategy: Bullish above 0.66270, target 0.66042 0.65880
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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