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RBA expected to raise interest rates slightly, AUD/USD continues to soar
2022-06-03
1049
Fundamental analysis:
Despite surging inflation in Australia, the RBA will opt for a slower pace of rate hikes than other central banks, raising rates by a modest 25 basis points at its June meeting.
AUDUSD daily chart:
Technical analysis: The daily moving averages are long arranged, the exchange rate starts to accelerate, the MACD runs on the 0 axis and the volume begins to increase, the RSI continues to rise, and it is expected that the exchange rate will likely rise further.
Long and short turning point: 0.7250
Suppression bit: 0.7400 0.7550
Support level: 0.7100 0.6950
Trading strategy: bullish above 0.7250, target 0.7400, 0.7550
Alternative strategy: bearish below 0.7250, target 0.7100, 0.6950
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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