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Energy giants turn to Australia, AUD/USD continues counterattack
2022-05-31
808
Fundamental analysis:
Shell has made an investment decision on the development of the Crooks field in Australia to supply natural gas to the Prelude FLNG floating plant, according to a Shell press release. Construction will begin in 2022, with initial gas production expected in 2027
AUDUSD daily chart:
Technical analysis: The daily moving averages are in the long position, the exchange rate continues to rebound, the MACD runs below the 0 axis but the volume can continue to shrink slightly, the RSI continues to rise, and the exchange rate is expected to further decline after the rebound.
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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