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Australia and the United States: shock downward
2022-07-06
1087
Fundamental analysis:
The Australian dollar remained volatile around 0.68005 against the US dollar. The RBA raised interest rates by 0.5 percentage points for the first time in a row and promised to continue tightening monetary policy to curb the acceleration of inflation. Since May, the RBA has raised borrowing costs by 125 basis points, putting pressure on Australia's debt ridden consumers.
AUDUSD AUDUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bearish power continues to fluctuate downward in the middle and lower track of the Bollinger belt index channel, the Bollinger belt index shows a slow opening trend and continues to move downward, the MACD index is in the weak consolidation under the 0 axis, and the RSI index is in the narrow wandering under the 50 equilibrium line;
Multi empty turning point: 0.68165
Pressing position: 0.68517, 0.68870
Support position: 0.67662, 0.67323
Trading strategy: bearish below 0.68165, target 0.67662, 0.67323
Alternative strategy: bullish above 0.68165, target 0.68517, 0.68870
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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