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AUDUSD: wide range shock
2023-07-11
748
Fundamental analysis:
AUD/USD remained volatile around 0.66739. Mining giants turned lower after China released CPI data that was worse than expected. Australian stocks opened higher and moved lower, approaching the 7,000-point mark.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls maintains a wide range of shocks and upwards, the bulls in the market continue to rise, the MACD indicator is hovering on the upper side of the 0 axis, and the RSI indicator is on the upper side of the 50 balance line.
Resistance levels: 0.66873 0.67010
Support levels: 0.66572 0.66441
Trading strategy: Bullish above 0.66683, target 0.66873 0.67010
Alternative strategy: bearish below 0.66683, target 0.66572 0.66441
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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