Australia's interest rate hike is expected to help boost the Australian dollar

Fundamental analysis:

The Aussie dollar remained volatile around 0.70181, and Australia's good labor data helped bring a 50 basis point interest rate hike into sight, which may help boost the Aussie dollar, but it is unclear whether it will continue. The Australian dollar is still driven by global factors, such as the decline of US stock market, the aggressive tightening of monetary policy by the Federal Reserve and the rise of recession concerns.

AUDUSD AUDUSD - 4-hour K-line chart shows:

Technical comments: the bull power continues to fluctuate and rise in the upper rail section of the Bollinger belt index channel, and the high level starts to sort out after reaching the node near 0.70713. The short-term high short power shows signs of waiting for the opportunity to enter. The Bollinger belt index shows a closing trend, moves upward and starts to translate. The MACD index is above the 0 axis, and the bull area maintains sorting and translation, and the RSI index is in the weak shock on the upper side of the 0 axis;

Long short turning point: 0.70286

Pressing position: 0.70675, 0.71154

Support position: 0.68768, 0.69379

Trading strategy: bearish below 0.70286, target 0.68768, 0.69379

Alternative strategy: bullish above 0.70286, target 0.70675, 0.71154

The above analysis is a personal point of view and is for reference only.