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AUDUSD: wide range of shocks

Fundamental analysis:

The Australian dollar remains volatile against the US dollar around 0.64199. According to the State Financial Supervision and Administration Bureau, from September 10 to 11, 2023, the Basel Committee (BCBS) held meetings of heads of supervisory authorities (HOS) and central bank governors in Basel, Switzerland. and the Meeting of Heads of Supervisory Authorities (GHOS), attended by Xiao Yuanqi, Deputy Director of the State Administration of Financial Supervision and Administration.

Australian Dollar USD AUDUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum maintains wide fluctuations and moves downward, the short-term decline may continue, and the overall market decline continues. The MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is consolidating near the 50 equilibrium line;

Resistance level: 0.64370 0.64488

Support level: 0.64110 0.64007

Trading strategy: Bearish below 0.64230, target 0.64110 0.64007
Alternative strategy: bullish above 0.64230, target 0.64370 0.64488

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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