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AUDUSD: shock moves up
2023-08-23
530
Fundamental analysis:
AUD/USD remains volatile around 0.64217, and AUD/USD is facing a toxic force that could send it sharply lower. The Fed's recent pause signal did little to weaken the dollar, as a surge in long-dated Treasury yields provided fresh support for yields.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum keeps oscillating upwards, the short-term bullish sentiment continues, the bulls in the market are constantly pulling up, the MACD indicator is in the bearish area and continues to rise, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 0.64376 0.64555
Support levels: 0.63957 0.63790
Trading strategy: Bullish above 0.64148, target 0.64376 0.64555
Alternative strategy: bearish below 0.64148, target 0.63957 0.63790
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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