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AUDUSD: oscillating upward
2023-05-05
825
Fundamental analysis:
The Australian dollar remained volatile around 0.66949 against the U.S. dollar, and the Australian 10-year government bond yield fell by 8 basis points to 3.332%; Australia’s exports in March increased by 4% month-on-month, and the trade account in March recorded 16.7 billion Australian dollars.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the bullish momentum maintains a wide range of shocks, the short-term shocks are moving upwards again, the market is still bullish, the MACD indicator is in the bullish zone and the RSI indicator is hovering weakly above the 50 balance line;
Resistance levels: 0.67052 0.67183
Support levels: 0.66758 0.66631
Trading strategy: bullish above 0.66874, target 0.67052 0.67183
Alternative strategy: bearish below 0.66874, target 0.66758 0.66631
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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