RBA to raise interest rate by 25 basis points tomorrow

Fundamental analysis:

The Australian dollar remained volatile around 0.71875 against the US dollar. The RBA will raise interest rates by 25 basis points tomorrow and raise its overnight cash interest rate target by 60 basis points. Moreover, the RBA will continue to raise interest rates by 25 basis points. The RBA will not readjust its monetary policy until the interest rate is slightly higher than 1% in August.

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

Technical comments: the bullish power continued to fluctuate and rise in the Bollinger belt index channel. The high level broke through the nodes near the upper rail and then moved down again to the middle and lower rail section for consolidation. After the Bollinger belt index showed an upward trend, the high level began to close and shift. The MACD index was in the bullish area, maintained consolidation and retreated to the vicinity of the 0 axis, and the RSI index was under the 50 equilibrium line for consolidation;

Multi empty turning point: 0.72014

Pressing position: 0.72297, 0.72572

Support position: 0.71562, 0.71207

Trading strategy: bearish below 0.72014, target 0.71562, 0.71207

Alternative strategy: bullish above 0.72014, target 0.72297, 0.72572

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