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AUDUSD: shock moves up

2023-07-26
803
Fundamental analysis:

The Australian dollar remained volatile around 0.67860 against the US dollar. The RBA announced the date of the 2024 policy meeting. The number of meetings was reduced to 8 instead of 11, which were held in February, March, May, June, August, September, November and December.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains volatile and moves upwards, the short-term bullish sentiment is shrouded, the bulls in the market are constantly pulling up, the MACD indicator is in the short area and moves up to hover around the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line;

Resistance levels: 0.68082 0.68240

Support levels: 0.67670 0.67511

Trading strategy: Bullish above 0.67844, target 0.68082 0.68240
Alternative strategy: bearish below 0.67844, target 0.67670 0.67511

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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