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AUDUSD: low volatility
2023-05-31
745
Fundamental analysis:
The Australian dollar remained volatile around 0.65192 against the US dollar. Australia’s April building permits fell 8.1% from the previous month, far below the expected growth of 2%. The Australian consumer confidence index fell 1.1 points to 76.2 points last week, while the average consumer confidence index in May Confidence fell to 76.8 points, the lowest monthly average since December 1990.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: low short-term wide fluctuations, the market as a whole is in a short-term low-level weak trend, short-term or tangled low-level fluctuations, the MACD indicator is in the short-term low level and rises slowly, and the RSI indicator is below the 50 balance line.
Resistance levels: 0.65468 0.65664
Support levels: 0.65012 0.64875
Trading strategy: bearish below 0.65294, target 0.65012 0.64875
Alternative strategy: Bullish above 0.65294, target 0.65468 0.65664
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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