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Australia and the United States: China Railway upper side finishing

2022-07-05
1171
Fundamental analysis:

The Australian dollar remained volatile around 0.68689 against the US dollar. Economists expect the RBA to raise its cash target interest rate by 0.5 percentage points to 1.35% on Tuesday, the highest level since May 2019.


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





Technical analysis:


According to the 4-hour chart: the short power continues, the middle and lower rail section of the Bollinger belt index channel continues to vibrate downward, the low-level narrow amplitude vibration V moves upward to hover above the middle rail, the Bollinger belt index moves after opening its mouth, the MACD index remains in the short area, and the finishing moves upward, and the RSI index is weak around the 50 balance line;


Long short turning point: 0.68546


Pressing position: 0.69068, 0.68388


Support position: 0.68247, 0.67927


Trading strategy: bullish above 0.68546, target 0.69068, 0.68388


Alternative strategy: bearish below 0.68546, target 0.68247, 0.67927

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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