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AUDUSD: oscillating upward

Fundamental analysis:

The Australian dollar remained volatile around 0.66849 against the US dollar. According to the National Australia Bank survey, the Australian business confidence index fell to -4 in February, and the business conditions index fell slightly by 1 point to 17, but it was still at a very strong level. Prices and costs increased in February Indicators remain high.

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

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains volatile and moves up, short-term bullish sentiment is shrouded, the market bullish momentum moves up in a range of shocks, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order above the 50 balance line;

Resistance levels: 0.67050 0.67221

Support levels: 0.66553 0.66383

Trading strategy: bearish below 0.66749, target 0.66553 0.66383
Alternative strategy: Bullish above 0.66749, target 0.67050 0.67221

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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