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AUDUSD: low volatility

2023-08-27
731
Fundamental analysis:

AUD/USD remained volatile around 0.64174, Australian energy giant Woodside (Woodside) reached an agreement in principle with relevant labor unions. Woodside is working on the final draft of the enterprise agreement and will submit it on Monday. Woodside will take no strike action while the deal is being finalized and formalized.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics fluctuate at a low level, the short-term short-term sentiment remains, the overall market is in a bearish trend, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 0.64392 0.64560

Support levels: 0.64000 0.63843

Trading strategy: bearish below 0.64239, target 0.64000 0.63843
Alternative strategy: Bullish above 0.64239, target 0.64392 0.64560

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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