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AUDUSD: Move up after low level great earthquake
2022-10-14
1184
Fundamental analysis:
The Australian dollar remained volatile against the US dollar at 0.62974. Australian Finance Minister Charles Moss denied the possibility of economic recession, but it was still difficult to prevent the Australian dollar from falling. National Australia Bank (NAB)'s business situation improved to 25 in September from the expected 18 and the previous 20, but the business confidence index matched the pessimistic market forecast of 5, which was 10 previously.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the narrow range of the low position is sorted out, it moves up rapidly. The short-term bullish sentiment starts to emerge, and the bull drive starts to enter the market. The MACD indicator stays in the short position and moves up, while the RSI indicator stays in the weak position below the 50 equilibrium line;
Empty turning point: 0.62817
Pressing: 0.63326, 0.63632
Support: 0.62484, 0.62226
Trading strategy: bullish above 0.62817, target 0.63326, 0.63632
Alternative strategy: 0.62817 bearish, target 0.62484, 0.62226
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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