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Australia and the United States: continuous downward shock
2022-07-07
1059
Fundamental analysis:
The Australian dollar remained volatile around 0.67692 against the US dollar. The market expected that the RBA would further raise the official cash rate by 50 basis points in August, compared with the previous forecast of 25 basis points. The labor market is still tightening, which increases the urgency for the RBA to return cash interest rates to neutral.
AUDUSD AUDUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart: the short power continues, the lower and middle track of the Bollinger belt index channel continues to vibrate downward, the Bollinger belt index shows a slow opening trend, the low short-term decline shows no sign of final stop, the MACD index is in the short area to maintain consolidation and translation, and the RSI index is hovering below the 50 equilibrium line;
Long short turning point: 0.67855
Pressing position: 0.68207, 0.68517
Support position: 0.67404, 0.67139
Trading strategy: bearish below 0.67855, target 0.67404, 0.67139
Alternative strategy: bullish above 0.67855, target 0.68207, 0.68517
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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