AUDUSD: oscillating down

AUD/USD remained volatile around 0.70591. Australia's December seasonally adjusted retail sales fell by 3.9% month-on-month, far exceeding the expected 1% decline. The report showed that the sharp decline in retail sales in December indicated that retail spending was slowing due to pressure from high living costs , retailers reported that many consumers responded to these pressures by doing more Christmas shopping in November, taking advantage of the Black Friday sales event.

Australian dollar AUDUSD - 4-hour K-line chart shows:

The 4-hour chart: After a high level of volatility and a downward trend, it rose in the short term. Although the bulls in the market showed signs of entering the market quickly, the overall trend was moving downward. The MACD index was below the 0 axis and the RSI index was below the 50 balance line. wandering;

Long-short turning point: 0.70685

Suppression: 0.70853, 0.71011

Support: 0.70443, 0.70301

Trading strategy: bearish below 0.70685, target 0.70443, 0.70301

Alternative strategy: Bullish above 0.70685, target 0.70853, 0.71011