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AUDUSD: Wide range sorting
2022-10-21
1092
Fundamental analysis:
The AUD/USD remained volatile around 0.62776. It was reasonable for the Federal Reserve of Australia to cut the pace of interest rate increase from 50 basis points to 25 basis points this month. The AUD/USD hit a three-day low. It was also difficult for the AUD/USD to continue to rise in the face of the continued downturn in the asset market and the downward revision of growth forecasts due to the adherence to strict epidemic prevention policies by Asian powers.
AUDUSD AUDUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the market is tangled, low and wide range sorting, short term long and empty, and no decision has been made yet. The MACD index is weak near the 0 axis, and the RSI index is narrow range sorting near the 50 equilibrium line;
Empty turning point: 0.62799
Pressing: 0.63034, 0.63326
Support: 0.62427, 0.62220
Trading strategy: bullish above 0.62799, target 0.63034, 0.63326
Alternative strategy: 0.62799 lower bearish, target 0.62427, 0.62220
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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