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Risk sentiment improves, USD weakens, AUD/USD continues to counterattack

2022-05-29
916
Fundamental analysis:
The risk-sensitive Australian dollar was up 0.86% at $0.7157. The New Zealand dollar was up 0.85% at $0.6533, its highest level since May 5. The dollar weakened as bond yields fell and risk sentiment improved.
AUDUSD AUDUSD daily chart:

Brief technical analysis: The daily moving averages are in a bearish arrangement, but the short-term moving averages are beginning to turn heads. The exchange rate continues to rebound. The MACD runs below the 0 axis but the volume can continue to shrink slightly. The RSI is slightly up. further down. 
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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