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AUDUSD: Weak shock moves up
2022-10-19
1103
Fundamental analysis:
The Australian dollar remained volatile against the US dollar at 0.63027. The Assistant Chairman of the Federal Reserve of Australia Bullock predicted that interest rates would be further raised in the coming months, and still believed that there was a way to reduce inflation and avoid falling into recession; Australian bond yield fell 10 basis points to 3.932%.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' momentum kept moving up in a weak shock. After the short-term bulls slowly rose, they began to sort out. The market bulls showed signs of continuing to move up. The MACD indicator bulls kept moving up in a shock and hovering above the 0 axis, and the RSI indicator was at the 50 equilibrium line;
Empty turning point: 0.62923
Pressing: 0.63326, 0.63632
Support: 0.62682, 0.62427
Trading strategy: bullish above 0.62923, target 0.63326, 0.63632
Alternative strategy: 0.62923 lower bearish, target 0.62682, 0.62427
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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