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AUDUSD: The shock moves down
2023-03-22
820
Fundamental analysis:
The Australian dollar remained volatile around 0.66710 against the US dollar. The Australian central bank is preparing to consider suspending interest rate hikes at the April policy meeting. Amid the turmoil in the banking industry, the market is increasingly ruling out the possibility of the Australian central bank raising interest rates further, which also drags down the Australian dollar;
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuate downward, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is hovering on the upper side of the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 0.66903 0.67059
Support levels: 0.66579 0.66455
Trading strategy: bearish below 0.66767, target 0.66579 0.66455
Alternative strategy: Bullish above 0.66767, target 0.66903 0.67059
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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