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AUDUSD: shock moves up

2023-03-21
800
Fundamental analysis:

The Australian dollar remained volatile near 0.67208 against the US dollar. The latest data from the Australian Bureau of Statistics shows that jobs in the tourism industry have almost returned to pre-epidemic levels, and cafes, restaurants and takeaway food services are only 0.5% lower than pre-epidemic levels.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum moves up within a narrow range, the market as a whole is on the bullish side, the MACD indicator is in the bullish zone, and the RSI indicator is hovering above the 50 balance line;

Resistance levels: 0.67340 0.67460

Support levels: 0.67011 0.66903

Trading strategy: bullish above 0.67131, target 0.67340 0.67460
Alternative strategy: bearish below 0.67131, target 0.67011 0.66903

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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