The Australian dollar fluctuated around 0.68404 against the US dollar. The assets of Australia's sovereign wealth fund have dropped below a $200 billion (about US $137.1 billion). After a difficult quarter in the market, the asset value of the fund has decreased by about a $6 billion.
AUDUSD AUDUSD - 4-hour K-line chart shows:
According to the 4-hour chart, the short-term entanglement of low-level weakness and narrow range consolidation, the short power waiting for the opportunity to enter the market and slow down, the overall short position of the market is good, the MACD indicator is in the short area to maintain the consolidation and translation, and the RSI indicator is in the narrow range below the 50 equilibrium line;
Long and short turning point: 0.68479
Pressing position: 0.68675, 0.68854
Support position: 0.68181, 0.67970
Trading strategy: bearish below 0.68479, target 0.68181, 0.67970
Alternative strategy: bullish above 0.68479, target 0.68675, 0.68854