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AUDUSD: low weak finishing down

Fundamental analysis:

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:

Technical analysis:

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

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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