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AUDUSD: range bound

2023-06-22
714
Fundamental analysis:

The Australian dollar remained volatile around 0.67952 against the US dollar. Australia’s leading indicators in May fell by 0.27% month-on-month, accelerating deterioration from April; Australian bond yields fell slightly, with 10-year Australian bond yields falling 6 basis points to 3.971%; investors waited for the Fed Chairman Powell testifies before the House Financial Services Committee.

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



rief technical analysis:

Looking at the 4-hour chart: In the short term, the short-term volatility is maintained, and the market’s bearish sentiment is still there. In the short term, there are signs of continued narrow-range volatility.

Resistance levels: 0.68257 0.68501

Support levels: 0.67728 0.67501

Trading strategy: bearish below 0.68001, target 0.67728 0.67501
Alternative strategy: Bullish above 0.68001, target 0.68257 0.68501

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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