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AUDUSD: Lower lows
2023-02-27
999
Fundamental analysis:
The Australian dollar remained volatile around 0.67287 against the US dollar. As Australia-China relations begin to stabilize, trade relations between China and Australia may resume. Trade Minister Don Farrell, who is about to visit China, said it will take some time to mend relations with China.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fall, the short-term decline has not stopped, the market's bearish sentiment continues to move down, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone and continues to move down;
Long-short turning point: 0.67378
Suppression: 0.67563, 0.67737
Support: 0.67120, 0.66927
Trading strategy: bearish below 0.67378, target 0.67120, 0.66927
Alternative strategy: Bullish above 0.67378, target 0.67563, 0.67737
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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