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AUDUSD: short position low oscillation
2022-10-12
1082
Fundamental analysis:
The Australian dollar remained volatile against the US dollar at 0.62605. Australian Finance Minister: We do not think the Australian economy will go backwards. There is no forecast of an Australian recession in the budget. Commodity prices have made a good contribution to the budget. The budget is intended to ensure that the RBA's work does not become more difficult.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish power maintains a downward momentum, and the low position continues to move downward after short-term narrow consolidation. The bearish mood remains unchanged. The MACD index is in the low position of the bearish area, and the RSI index is in the narrow amplitude oscillation below the 50 equilibrium line;
Empty turning point: 0.62750
Pressing: 0.63030, 0.63326
Support: 0.62295, 0.62026
Trading strategy: bearish at 0.62750, target 0.62295, 0.62026
Alternative strategy: bullish above 0.62750, target 0.63030, 0.63326
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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