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AUDUSD: Pulling up and oscillating

2023-04-21
817
Fundamental analysis:

The Australian dollar remained volatile around 0.67435 against the U.S. dollar. RBA Chairman Lowe: The RBA board will consider the frequency of meetings and communication methods. The RBA will formulate a plan to implement reforms in the best way. The review team’s support for the current monetary policy framework is welcome. RBA Chairman Lowe's job is indeed difficult, and it's no secret that the scrutiny isn't directed at anyone.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term bullish momentum maintains shocks and rises, and the bullish trend in the market begins to weaken. The MACD indicator is hovering around the 0 axis, and the RSI indicator is hovering above the 50 balance line;

Resistance levels: 0.67544 0.67650

Support levels: 0.67271 0.67161

Trading strategy: bearish below 0.67377, target 0.67271 0.67161
Alternative strategy: Bullish above 0.67377, target 0.67544 0.67650

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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