CM Trade

Download APP to receive bonus

GET

Australia's economic data is beautiful, the Australian dollar fell against the US dollar

2022-06-02
855
Fundamental analysis:
Australia's economy performed better than expected in the first quarter, as strong domestic demand offset the drag from bad weather and heavy imports, setting the stage for more inflation-fighting rate hikes.
 AUDUSD daily chart:

Technical analysis: The daily moving averages are long arranged, the exchange rate is weak on the upside, the MACD is running on the 0 axis but the volume 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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More