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AUDUSD: oscillating down
2023-07-06
801
Fundamental analysis:
The Australian dollar remained volatile around 0.66528 against the US dollar. Against the background of high interest rates and consumers becoming more cautious about spending, Australia's manufacturing performance index fell to 19.8 in June from -5.1 in the previous month; Australian bond yields fell slightly.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains volatile and downward, and the short-term decline may continue. The market’s short-term momentum remains moving downward. The MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Resistance levels: 0.66851 0.67049
Support levels: 0.66347 0.66172
Trading strategy: bearish below 0.66642, target 0.66347 0.66172
Alternative strategy: Bullish above 0.66642, target 0.66851 0.67049
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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