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AUDUSD: narrow amplitude vibration translation

2022-10-05
1090
Fundamental analysis:

The Aussie dollar remained volatile against the US dollar at 0.64977. The Australian Federal Reserve rate decided 2.6% by October 4, expected to be 2.85%, compared with 2.35% previously. The Federal Reserve of Australia raised interest rates by 25 basis points (%), and the rate increase fell back and was smaller than the market expectation.



AUDUSD AUDUSD - 4-hour K line chart shows:





Technical analysis:


The 4-hour chart shows that after the dynamic shock of the low bulls moved up, they began to reorganize. The short-term upward trend of the long bulls began to weaken, maintaining the weak shock. The MACD index hovered on the upper side of the 0 axis, and the RSI index was in the narrow range of the 50 balanced online side;


Empty turning point: 0.64977


Pressing position: 0.65324, 0.65556


Support position: 0.64723, 0.64468


Trading strategy: bullish above 0.64977, target 0.65324, 0.65556


Alternative strategy: 0.64977 bearish, target 0.64723, 0.64468

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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