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The rise of the US dollar was unsustainable, and the Australian dollar continued to counter attack against the US dollar

2022-05-24
1061
Fundamental analysis:

Wells Fargo believes that in the coming weeks, as investors digest disappointing economic data and expectations of the Fed's hawkish degree reach a peak, the dollar's rise will pause and enter a consolidation trend

AUDUSD # daily chart:




Technical analysis: the daily moving average is arranged in a short position, but the short-term moving average begins to turn around, and the exchange rate continues to rebound. MACD runs under the 0-axis, but the volume can continue to shrink slightly, and RSI rises slightly. It is expected that the exchange rate probability will further decline after the rebound.  

Long short turning point: 0.7250

Pressing position: 0.7400 ﹐ 0.7550

Support position: 0.7100 to 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 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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