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AUDUSD: oscillating upward

2023-04-19
832
Fundamental analysis:

The Australian dollar remained volatile around 0.67263 against the U.S. dollar. The minutes of the RBA meeting: There was discussion of maintaining the same or raising the rate by 25 basis points, but the view of suspending interest rate hikes was stronger.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum continues to fluctuate and rise, the short-term bullish sentiment remains, the bullish momentum in the market moves upward again, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;

Resistance levels: 0.67336 0.67434

Support levels: 0.67099 0.67000

Trading strategy: Bullish above 0.67202, target 0.67336 0.67434
Alternative strategy: bearish below 0.67202, target 0.67099 0.67000

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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