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Biden joins forces with Powell to curb inflation, AUD/USD counterattack is weak
2022-06-01
918
Fundamental analysis:
Biden met with Powell to discuss historic inflation, pledged to be free from political interference. Diess, director of the National Economic Council, agreed that the U.S. economy will be "transformed". The Federal Reserve raised interest rates to normal levels, curbed demand, eased prices, and slowed economic growth.
AUDUSD daily chart:
Technical analysis: The daily moving averages are long arranged, the rebound of the exchange rate is gradually weak, the MACD is running on the 0 axis but the amount of energy is insufficient, the RSI tends to slow down, and the exchange rate is expected to go down further.
Long and short turning point: 0.7250
Suppression bit: 0.7400 0.7550
Support level: 0.7100 0.6950
Trading strategy: bearish below 0.7250, target 0.7100, 0.6950
Alternative strategy: bullish above 0.7250, target 0.7400, 0.7550
The above analysis is a personal opinion and is for reference only.
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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