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AUDUSD: The shock moves down

Fundamental analysis:

The Australian dollar remained volatile near 0.69137 against the US dollar. Australia's employment population unexpectedly fell by 14,600 in December, while the market expected an increase of 25,000. The employment participation rate fell from 66.8% to 66.6%, and the unemployment rate rose to 3.5%; interest rate hike expectations fell, and Australian government bond yields fell sharply, with the 10-year bond yield falling 23 basis points to 3.329%.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics fluctuate downward, and the short-term maintenance is maintained, but the downward trend remains, and the market weakness has not yet shown signs of change. The MACD indicator is weakly hovering below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;

Long-short turning point: 0.69247

Suppression: 0.69496, 0.69744
Support: 0.68926, 0.68724

Trading strategy: bearish below 0.69247, target 0.68926, 0.68724
Alternative strategy: Bullish above 0.69247, target 0.69496, 0.69744

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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