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The RBA may raise interest rates by 25 basis points in June as before
2022-05-20
929
Fundamental analysis:
The Australian dollar remained volatile around 0.70461 against the US dollar. The RBA's slowdown in employment growth in April and the sluggish wage growth in the first quarter may persuade the RBA to raise interest rates by only 25 basis points in June, rather than the 40 basis points expected by some. Employment increased by 4000 in April, far below the market's expected increase of 30000.
AUDUSD AUDUSD - 4-hour K-line chart shows:
Technical comments: the low-level bull power continues to fluctuate and rise in the upper rail section of the brin belt index channel, and the high level reaches the node near 0.70714. The short-term bull power continues to move upward. The brin belt index shows a closing trend and moves upward slowly. The MACD index is on the 0 axis and maintains a narrow consolidation and translation, and the RSI index is at 50 equilibrium, and the online side remains weak;
Long short turning point: 0.70286
Pressing bit: 0.70869、0.71258
Support position: 0.69936, 0.69509
Trading strategy: bullish above 0.70286, target 0.70869, 0.71258
Alternative strategy: bearish below 0.70286, target 0.69936, 0.69509
The above analysis is a personal point of view 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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