The Aussie dollar remained volatile around 0.68837 against the US dollar, and the Aussie dollar will weaken in the coming months and even in 2023; Two factors will particularly drag down the Australian Dollar: 1) the country's slowing real estate market; 2) With the economic slowdown in Asia, Australia's terms of trade have deteriorated.
AUDUSD - 4-hour K-line chart shows:
According to the 4-hour chart, the low bulls kept surging, the short-term Bulls' momentum continued to rise, the market was bullish, the MACD index remained in the long area, and the RSI index hovered in the long area;
Long and short turning point: 0.68721
Pressing position: 0.69040, 0.69229
Support position: 0.68508, 0.68277
Trading strategy: bullish above 0.68721, targeting 0.69040, 0.69229
Alternative strategy: bearish below 0.68721, target 0.68508, 0.68277